UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $83.48 Million Stock Position in Manulife Financial Co. (NYSE:MFC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 14.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,825,083 shares of the financial services provider’s stock after selling 461,794 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Manulife Financial were worth $83,481,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MFC. Grove Bank & Trust acquired a new stake in Manulife Financial during the 2nd quarter worth approximately $25,000. West Financial Advisors LLC acquired a new stake in shares of Manulife Financial during the third quarter worth $26,000. Brooklyn Investment Group bought a new stake in shares of Manulife Financial in the third quarter valued at about $26,000. Addison Advisors LLC grew its stake 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 valued at $29,000 after acquiring an additional 467 shares in the last quarter. Finally, HHM Wealth Advisors LLC raised its stake in Manulife Financial by 119.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Barclays began coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $37.50.

Manulife Financial Price Performance

Shares of NYSE:MFC opened at $32.31 on Tuesday. Manulife Financial Co. has a 1 year low of $19.53 and a 1 year high of $33.07. The stock has a market capitalization of $56.59 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.18 and a beta of 1.08. The company’s 50 day simple moving average is $30.73 and its 200 day simple moving average is $27.93.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The company had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same quarter last year, the company posted $0.69 EPS. As a group, analysts anticipate that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be issued a $0.296 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.67%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s dividend payout ratio is 57.00%.

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.