Manulife Financial Co. (NYSE:MFC) Stake Decreased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP trimmed its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,522,073 shares of the financial services provider’s stock after selling 450,251 shares during the quarter. Dimensional Fund Advisors LP owned about 0.48% of Manulife Financial worth $226,856,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Prudential PLC grew its stake in shares of Manulife Financial by 11.1% in the fourth quarter. Prudential PLC now owns 1,141,942 shares of the financial services provider’s stock worth $25,235,000 after purchasing an additional 114,213 shares in the last quarter. Duality Advisers LP raised its position in shares of Manulife Financial by 795.2% during the 1st quarter. Duality Advisers LP now owns 217,658 shares of the financial services provider’s stock worth $5,439,000 after buying an additional 193,343 shares in the last quarter. Alberta Investment Management Corp boosted its holdings in shares of Manulife Financial by 21.4% in the fourth quarter. Alberta Investment Management Corp now owns 4,182,203 shares of the financial services provider’s stock valued at $92,867,000 after acquiring an additional 737,203 shares in the last quarter. Bessemer Group Inc. raised its holdings in Manulife Financial by 2,913.7% during the first quarter. Bessemer Group Inc. now owns 86,615 shares of the financial services provider’s stock worth $2,163,000 after purchasing an additional 83,741 shares in the last quarter. Finally, Claret Asset Management Corp boosted its stake in Manulife Financial by 1.0% during the 4th quarter. Claret Asset Management Corp now owns 89,860 shares of the financial services provider’s stock valued at $1,987,000 after purchasing an additional 904 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Trading Down 0.0 %

NYSE MFC opened at $28.26 on Thursday. Manulife Financial Co. has a 1 year low of $17.07 and a 1 year high of $28.56. The company has a market cap of $50.57 billion, a PE ratio of 16.43, a PEG ratio of 1.02 and a beta of 1.08. The stock’s 50-day moving average price is $26.52 and its two-hundred day moving average price is $25.54.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.27. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. The business had revenue of $9.41 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. Research analysts forecast that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

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

Analyst Ratings Changes

MFC has been the subject of several research reports. TD Securities raised their target price on Manulife Financial from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Barclays began coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating on the stock. Finally, Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.