Manulife Financial Co. (NYSE:MFC) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 17.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,338,762 shares of the financial services provider's stock after selling 292,393 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Manulife Financial worth $29,728,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Alliance grew its position in Manulife Financial by 3.1% in the 4th quarter. Wealth Alliance now owns 31,677 shares of the financial services provider's stock worth $700,000 after purchasing an additional 938 shares during the period. DGS Capital Management LLC grew its position in Manulife Financial by 5.3% in the 4th quarter. DGS Capital Management LLC now owns 45,093 shares of the financial services provider's stock worth $997,000 after purchasing an additional 2,260 shares during the period. S. R. Schill & Associates grew its position in Manulife Financial by 37.1% in the 4th quarter. S. R. Schill & Associates now owns 49,513 shares of the financial services provider's stock worth $1,094,000 after purchasing an additional 13,411 shares during the period. Triasima Portfolio Management inc. bought a new stake in shares of Manulife Financial during the 4th quarter valued at $985,000. Finally, NewEdge Wealth LLC bought a new stake in shares of Manulife Financial during the 4th quarter valued at $209,000. Institutional investors own 52.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MFC. Jefferies Financial Group began coverage on shares of Manulife Financial in a research report on Thursday, February 22nd. They set a "buy" rating for the company. BMO Capital Markets raised shares of Manulife Financial from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $31.00 to $35.00 in a research report on Thursday, February 15th. Desjardins raised shares of Manulife Financial from a "hold" rating to a "buy" rating in a research report on Thursday, February 15th. Finally, TheStreet raised shares of Manulife Financial from a "c+" rating to a "b" rating in a research report on Thursday, December 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Manulife Financial presently has a consensus rating of "Moderate Buy" and an average target price of $33.33.

Manulife Financial Trading Up 0.2 %

Shares of MFC traded up $0.04 during trading hours on Wednesday, reaching $22.82. 1,970,056 shares of the stock traded hands, compared to its average volume of 3,315,136. Manulife Financial Co. has a 52-week low of $17.07 and a 52-week high of $25.14. The company's 50-day moving average price is $23.97 and its two-hundred day moving average price is $21.38. The company has a market cap of $41.09 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 0.85 and a beta of 1.08.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its earnings results on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.05. Manulife Financial had a net margin of 10.42% and a return on equity of 15.98%. The company had revenue of $10.96 billion for the quarter, compared to analysts' expectations of $7.57 billion. On average, research analysts forecast that Manulife Financial Co. will post 2.71 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were paid a $0.298 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $1.19 annualized dividend and a yield of 5.22%. This is a boost from Manulife Financial's previous quarterly dividend of $0.26. Manulife Financial's payout ratio is presently 61.66%.

Manulife Financial Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.