Manulife Financial Co. (NYSE:MFC) Shares Sold by Achmea Investment Management B.V.

Achmea Investment Management B.V. trimmed its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 852,551 shares of the financial services provider’s stock after selling 44,841 shares during the quarter. Achmea Investment Management B.V.’s holdings in Manulife Financial were worth $26,177,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in Manulife Financial during the third quarter valued at about $26,000. Crews Bank & Trust bought a new position in Manulife Financial during the fourth quarter valued at approximately $26,000. Stonebridge Financial Group LLC bought a new position in Manulife Financial during the fourth quarter valued at approximately $34,000. Golden State Wealth Management LLC bought a new position in shares of Manulife Financial in the fourth quarter valued at approximately $35,000. Finally, CKW Financial Group bought a new position in shares of Manulife Financial in the fourth quarter valued at approximately $37,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MFC shares. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada lifted their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $45.50.

Manulife Financial Stock Performance

Shares of NYSE:MFC opened at $29.27 on Thursday. The company’s fifty day moving average is $30.14 and its 200-day moving average is $30.17. The company has a market capitalization of $50.43 billion, a PE ratio of 14.14, a P/E/G ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.07. The business had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. On average, analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.3094 per share. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 4.23%. The ex-dividend date is Wednesday, March 5th. Manulife Financial’s payout ratio is currently 58.45%.

Manulife Financial Company 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.