American Century Companies Inc. Sells 116,891 Shares of Manulife Financial Co. (NYSE:MFC)

American Century Companies Inc. lowered its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 10.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 998,490 shares of the financial services provider’s stock after selling 116,891 shares during the period. American Century Companies Inc. owned approximately 0.06% of Manulife Financial worth $26,589,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Grove Bank & Trust bought a new position in Manulife Financial during the second quarter valued at approximately $25,000. Fortis Group Advisors LLC lifted its holdings in shares of Manulife Financial by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 1,210 shares of the financial services provider’s stock valued at $27,000 after buying an additional 605 shares during the period. Bruce G. Allen Investments LLC boosted its stake in shares of Manulife Financial by 73.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,156 shares of the financial services provider’s stock worth $29,000 after buying an additional 490 shares during the last quarter. Addison Advisors LLC grew its holdings in shares of Manulife Financial by 77.2% in the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 467 shares during the period. Finally, HHM Wealth Advisors LLC increased its position in Manulife Financial by 119.0% during the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Trading Down 0.0 %

NYSE MFC opened at $28.26 on Thursday. Manulife Financial Co. has a 12 month low of $17.07 and a 12 month high of $28.56. The stock has a market cap of $50.57 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 1.02 and a beta of 1.08. The company’s 50 day moving average is $26.52 and its two-hundred day moving average is $25.54.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.64 by $0.27. The firm had revenue of $9.41 billion for the quarter, compared to the consensus estimate of $8.95 billion. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. During the same period last year, the firm earned $0.62 EPS. Sell-side analysts forecast that Manulife Financial Co. will post 2.72 EPS for the current year.

Manulife Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st will be given a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.16 annualized dividend and a dividend yield of 4.11%. Manulife Financial’s payout ratio is 66.86%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MFC. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. TD Securities upped their target price on shares of Manulife Financial from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Barclays initiated coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating on the stock. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.

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.