Achmea Investment Management B.V. Sells 44,841 Shares of Manulife Financial Co. (NYSE:MFC)

Achmea Investment Management B.V. cut its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. National Bank of Canada FI grew its position in shares of Manulife Financial by 13.5% in the 3rd quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider’s stock valued at $829,374,000 after purchasing an additional 3,329,892 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Manulife Financial by 1.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,334,413 shares of the financial services provider’s stock valued at $347,757,000 after purchasing an additional 190,738 shares during the period. Geode Capital Management LLC grew its position in shares of Manulife Financial by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider’s stock valued at $247,473,000 after purchasing an additional 616,517 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Manulife Financial by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,186,930 shares of the financial services provider’s stock valued at $153,455,000 after purchasing an additional 158,216 shares during the period. Finally, Alberta Investment Management Corp grew its position in shares of Manulife Financial by 5.1% in the 4th quarter. Alberta Investment Management Corp now owns 4,896,049 shares of the financial services provider’s stock valued at $150,333,000 after purchasing an additional 236,808 shares during the period. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Manulife Financial Stock Up 2.3 %

NYSE:MFC opened at $29.27 on Thursday. Manulife Financial Co. has a twelve month low of $22.61 and a twelve month high of $33.07. The business has a 50 day moving average price of $30.14 and a two-hundred day moving average price of $30.17. The company has a market cap of $50.43 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The firm had revenue of $9.31 billion during the quarter. As a group, analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.3094 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio is presently 58.45%.

About Manulife Financial

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.