Manulife Financial Corp $MFC Stake Reduced by World Investment Advisors

World Investment Advisors trimmed its holdings in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 14.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,865 shares of the financial services provider’s stock after selling 2,601 shares during the quarter. World Investment Advisors’ holdings in Manulife Financial were worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Eastern Bank raised its holdings in shares of Manulife Financial by 156.1% in the 2nd quarter. Eastern Bank now owns 968 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 590 shares in the last quarter. William B. Walkup & Associates Inc. acquired a new position in Manulife Financial in the first quarter worth approximately $43,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Manulife Financial in the second quarter valued at $55,000. Carderock Capital Management Inc. acquired a new stake in shares of Manulife Financial during the 2nd quarter valued at $58,000. Finally, Kozak & Associates Inc. acquired a new stake in shares of Manulife Financial during the 2nd quarter valued at $61,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MFC shares. UBS Group assumed coverage on Manulife Financial in a report on Thursday, October 16th. They issued a “buy” rating on the stock. Royal Bank Of Canada decreased their price target on Manulife Financial from $51.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Morgan Stanley set a $47.00 price objective on Manulife Financial in a report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Manulife Financial in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $48.00.

Manulife Financial Stock Up 0.7%

Shares of Manulife Financial stock opened at $32.37 on Monday. Manulife Financial Corp has a 12 month low of $25.92 and a 12 month high of $33.07. The stock has a market cap of $54.69 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98. The business has a fifty day simple moving average of $31.50 and a 200-day simple moving average of $31.18.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.02). Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%.The business had revenue of $11.30 billion during the quarter. During the same period in the prior year, the company posted $0.91 earnings per share. Analysts expect that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Wednesday, August 20th were issued a dividend of $0.3199 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Wednesday, August 20th. Manulife Financial’s dividend payout ratio is 56.70%.

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.