Swiss National Bank Has $130.83 Million Position in Manulife Financial Co. (NYSE:MFC)

Swiss National Bank cut its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,909,800 shares of the financial services provider’s stock after selling 252,700 shares during the quarter. Swiss National Bank owned approximately 0.33% of Manulife Financial worth $130,832,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MFC. Blue Trust Inc. grew its stake in shares of Manulife Financial by 5.7% in the 4th quarter. Blue Trust Inc. now owns 10,465 shares of the financial services provider’s stock valued at $231,000 after buying an additional 568 shares in the last quarter. First Affirmative Financial Network increased its stake in shares of Manulife Financial by 6.0% during the 4th quarter. First Affirmative Financial Network now owns 10,604 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 600 shares during the last quarter. Advisor Partners II LLC raised its holdings in shares of Manulife Financial by 1.9% during the 3rd quarter. Advisor Partners II LLC now owns 32,217 shares of the financial services provider’s stock valued at $589,000 after purchasing an additional 610 shares in the last quarter. Clearstead Advisors LLC lifted its stake in shares of Manulife Financial by 35.6% in the 3rd quarter. Clearstead Advisors LLC now owns 2,535 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 665 shares during the last quarter. Finally, Advisory Resource Group boosted its holdings in Manulife Financial by 2.2% in the fourth quarter. Advisory Resource Group now owns 32,311 shares of the financial services provider’s stock worth $714,000 after purchasing an additional 702 shares in the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Stock Up 1.3 %

MFC opened at $24.01 on Friday. Manulife Financial Co. has a 12-month low of $17.07 and a 12-month high of $25.14. The stock’s 50 day moving average price is $23.93 and its two-hundred day moving average price is $21.76. The firm has a market capitalization of $43.25 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 0.88 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.05. The company had revenue of $10.96 billion for the quarter, compared to analyst estimates of $7.57 billion. Manulife Financial had a net margin of 10.42% and a return on equity of 15.98%. As a group, analysts anticipate that Manulife Financial Co. will post 2.7 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, February 28th were paid a $0.298 dividend. This represents a $1.19 dividend on an annualized basis and a dividend yield of 4.96%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.26. The ex-dividend date was Tuesday, February 27th. Manulife Financial’s dividend payout ratio is presently 61.66%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Desjardins raised Manulife Financial from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. BMO Capital Markets raised shares of Manulife Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $31.00 to $35.00 in a research report on Thursday, February 15th. Finally, Jefferies Financial Group began coverage on shares of Manulife Financial in a report on Thursday, February 22nd. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

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.