DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Decreases Stock Holdings in Manulife Financial Co. (NYSE:MFC)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main trimmed its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 15.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 33,253 shares of the financial services provider’s stock after selling 6,172 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Manulife Financial were worth $1,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Crews Bank & Trust purchased a new stake in shares of Manulife Financial during the fourth quarter valued at approximately $26,000. Lee Danner & Bass Inc. purchased a new stake in Manulife Financial in the fourth quarter worth $31,000. Stonebridge Financial Group LLC purchased a new stake in Manulife Financial in the fourth quarter worth $34,000. Golden State Wealth Management LLC purchased a new stake in Manulife Financial in the fourth quarter worth $35,000. Finally, CKW Financial Group purchased a new stake in Manulife Financial in the fourth quarter worth $37,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Trading Down 0.8%

NYSE MFC opened at $30.90 on Monday. Manulife Financial Co. has a 1-year low of $23.30 and a 1-year high of $33.07. The stock has a 50-day moving average of $29.82 and a 200-day moving average of $30.47. The firm has a market cap of $52.92 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.11 and a beta of 1.00.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The business had revenue of $1.49 billion for the quarter. During the same period last year, the firm earned $0.94 earnings per share. As a group, equities research analysts forecast that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Wednesday, May 21st will be paid a $0.3194 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $1.28 annualized dividend and a dividend yield of 4.13%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.31. Manulife Financial’s dividend payout ratio is presently 63.35%.

Wall Street Analyst Weigh In

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

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.