DekaBank Deutsche Girozentrale Has $51.08 Million Holdings in Manulife Financial Co. (NYSE:MFC)

DekaBank Deutsche Girozentrale boosted its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 10.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,088,842 shares of the financial services provider’s stock after buying an additional 200,426 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Manulife Financial were worth $51,084,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MFC. Raymond James Financial Services Advisors Inc. boosted its stake in Manulife Financial by 109.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 199,140 shares of the financial services provider’s stock valued at $4,401,000 after buying an additional 104,026 shares in the last quarter. Global Retirement Partners LLC raised its position in Manulife Financial by 80.3% in the fourth quarter. Global Retirement Partners LLC now owns 4,478 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 1,994 shares during the last quarter. PFG Advisors bought a new position in Manulife Financial in the fourth quarter valued at about $349,000. International Assets Investment Management LLC bought a new position in Manulife Financial in the fourth quarter valued at about $1,846,000. Finally, Grimes & Company Inc. raised its position in Manulife Financial by 18.5% in the fourth quarter. Grimes & Company Inc. now owns 29,748 shares of the financial services provider’s stock valued at $657,000 after purchasing an additional 4,645 shares during the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the company. National Bank Financial upgraded Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Thursday, May 9th. TD Securities increased their target price on Manulife Financial from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 28th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.00.

Manulife Financial Stock Performance

Shares of MFC traded down $0.93 during mid-day trading on Friday, reaching $24.74. 6,909,094 shares of the company were exchanged, compared to its average volume of 1,613,034. Manulife Financial Co. has a 52 week low of $17.07 and a 52 week high of $27.51. The stock has a market capitalization of $44.15 billion, a PE ratio of 14.38, a PEG ratio of 0.94 and a beta of 1.09. The business has a 50 day simple moving average of $26.14 and a two-hundred day simple moving average of $24.61.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. Manulife Financial had a return on equity of 16.27% and a net margin of 9.28%. The company had revenue of $9.49 billion during the quarter, compared to the consensus estimate of $8.85 billion. On average, analysts predict that Manulife Financial Co. will post 2.72 EPS for the current year.

Manulife Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were paid a dividend of $0.29 per share. The ex-dividend date was Tuesday, May 21st. This represents a $1.16 annualized dividend and a yield of 4.69%. Manulife Financial’s dividend payout ratio is currently 67.44%.

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.