Swiss National Bank Boosts Stake in Manulife Financial Corp $MFC

Swiss National Bank grew its position in shares of Manulife Financial Corp (NYSE:MFCFree Report) (TSE:MFC) by 25.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 5,645,600 shares of the financial services provider’s stock after acquiring an additional 1,154,200 shares during the period. Swiss National Bank’s holdings in Manulife Financial were worth $194,191,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Hoge Financial Services LLC lifted its stake in shares of Manulife Financial by 0.9% in the 4th quarter. Hoge Financial Services LLC now owns 31,975 shares of the financial services provider’s stock valued at $1,160,000 after purchasing an additional 272 shares in the last quarter. Kathmere Capital Management LLC grew its holdings in shares of Manulife Financial by 2.0% during the 4th quarter. Kathmere Capital Management LLC now owns 14,421 shares of the financial services provider’s stock worth $523,000 after purchasing an additional 277 shares during the period. Americana Partners LLC increased its position in Manulife Financial by 0.5% during the 4th quarter. Americana Partners LLC now owns 59,081 shares of the financial services provider’s stock worth $2,143,000 after purchasing an additional 295 shares in the last quarter. Midwest Professional Planners LTD. increased its position in Manulife Financial by 1.1% during the 1st quarter. Midwest Professional Planners LTD. now owns 27,702 shares of the financial services provider’s stock worth $954,000 after purchasing an additional 305 shares in the last quarter. Finally, Bridges Investment Management Inc. raised its holdings in Manulife Financial by 2.0% in the fourth quarter. Bridges Investment Management Inc. now owns 16,037 shares of the financial services provider’s stock valued at $582,000 after buying an additional 321 shares during the period. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on MFC shares. Zacks Research cut shares of Manulife Financial from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 15th. TD Securities reissued a “buy” rating on shares of Manulife Financial in a research report on Thursday, May 14th. Weiss Ratings raised shares of Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, May 28th. Finally, Scotiabank restated an “outperform” rating on shares of Manulife Financial in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $51.50.

View Our Latest Analysis on MFC

Manulife Financial Stock Performance

MFC stock opened at $43.38 on Monday. The firm has a market cap of $72.09 billion, a P/E ratio of 17.21 and a beta of 0.84. Manulife Financial Corp has a 1 year low of $29.70 and a 1 year high of $43.55. The stock has a 50-day simple moving average of $39.93 and a 200-day simple moving average of $37.73.

Manulife Financial (NYSE:MFCGet Free Report) (TSE:MFC) last released its quarterly earnings results on Wednesday, May 13th. The financial services provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.02). The company had revenue of $8.89 billion for the quarter, compared to analyst estimates of $2.32 billion. Manulife Financial had a return on equity of 16.58% and a net margin of 10.19%.During the same period last year, the firm posted $0.99 earnings per share. On average, equities research analysts predict that Manulife Financial Corp will post 3.03 EPS for the current year.

Manulife Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, May 29th were paid a dividend of $0.485 per share. The ex-dividend date was Friday, May 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.5%. Manulife Financial’s dividend payout ratio (DPR) is currently 56.75%.

About Manulife Financial

(Free Report)

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.

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Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

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