Nuveen Asset Management LLC Has $69.55 Million Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Nuveen Asset Management LLC decreased its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,264,961 shares of the financial services provider’s stock after selling 12,884 shares during the period. Nuveen Asset Management LLC owned 0.13% of Manulife Financial worth $69,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MFC. Lazard Asset Management LLC bought a new stake in Manulife Financial in the fourth quarter worth approximately $35,000. Janus Henderson Group PLC increased its holdings in Manulife Financial by 2.3% in the fourth quarter. Janus Henderson Group PLC now owns 212,208 shares of the financial services provider’s stock worth $6,523,000 after purchasing an additional 4,800 shares in the last quarter. Focus Partners Wealth increased its holdings in Manulife Financial by 2,178.1% in the fourth quarter. Focus Partners Wealth now owns 767,847 shares of the financial services provider’s stock worth $23,592,000 after purchasing an additional 734,142 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in Manulife Financial by 12.3% in the fourth quarter. EP Wealth Advisors LLC now owns 11,980 shares of the financial services provider’s stock worth $368,000 after purchasing an additional 1,316 shares in the last quarter. Finally, Colonial Trust Co SC increased its holdings in Manulife Financial by 273.4% in the fourth quarter. Colonial Trust Co SC now owns 2,696 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 1,974 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada raised their price objective on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $45.50.

Manulife Financial Stock Performance

Shares of Manulife Financial stock opened at $32.01 on Friday. The stock has a market capitalization of $54.82 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 1.11 and a beta of 1.00. Manulife Financial Co. has a 52 week low of $23.30 and a 52 week high of $33.07. The stock has a 50 day moving average price of $30.08 and a two-hundred day moving average price of $30.53.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01). The company had revenue of $1.49 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. During the same quarter last year, the firm posted $0.94 earnings per share. Research analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.3194 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Wednesday, May 21st. Manulife Financial’s dividend payout ratio (DPR) is 63.87%.

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.