Manulife Financial Corp $MFC Shares Sold by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lowered its holdings in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 4.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,939,538 shares of the financial services provider’s stock after selling 86,881 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.11% of Manulife Financial worth $60,417,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new stake in Manulife Financial during the 4th quarter valued at $35,000. William B. Walkup & Associates Inc. bought a new stake in Manulife Financial during the 1st quarter valued at $43,000. NBC Securities Inc. raised its stake in Manulife Financial by 178,700.0% during the 1st quarter. NBC Securities Inc. now owns 1,788 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 1,787 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Manulife Financial during the 1st quarter valued at $59,000. Finally, Alpine Bank Wealth Management bought a new stake in Manulife Financial during the 1st quarter valued at $71,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Up 0.3%

Shares of NYSE MFC opened at $31.89 on Monday. The stock has a market capitalization of $54.04 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 1.07 and a beta of 0.99. The stock’s fifty day simple moving average is $30.68 and its 200 day simple moving average is $30.63. Manulife Financial Corp has a 52-week low of $25.92 and a 52-week high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%.The company had revenue of $11.30 billion during the quarter. During the same quarter last year, the firm earned $0.91 EPS. As a group, analysts anticipate that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Wednesday, August 20th will be issued a dividend of $0.3199 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Wednesday, August 20th. Manulife Financial’s dividend payout ratio is presently 56.70%.

Analyst Ratings Changes

Several analysts have weighed in on MFC shares. Morgan Stanley set a $48.00 target price on Manulife Financial in a research note on Monday, August 18th. Royal Bank Of Canada dropped their price objective on Manulife Financial from $51.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Manulife Financial has an average rating of “Buy” and a consensus price target of $48.50.

Manulife Financial Company 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.