Vontobel Holding Ltd. Reduces Stock Holdings in Manulife Financial Corp (NYSE:MFC)

Vontobel Holding Ltd. decreased its stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 22.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 321,177 shares of the financial services provider’s stock after selling 91,482 shares during the quarter. Vontobel Holding Ltd.’s holdings in Manulife Financial were worth $10,009,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lee Danner & Bass Inc. purchased a new position in shares of Manulife Financial in the 4th quarter worth approximately $31,000. Lazard Asset Management LLC purchased a new position in shares of Manulife Financial in the 4th quarter worth approximately $35,000. Transce3nd LLC purchased a new position in shares of Manulife Financial in the 4th quarter worth approximately $42,000. Millstone Evans Group LLC purchased a new position in shares of Manulife Financial in the 4th quarter worth approximately $44,000. Finally, Graney & King LLC purchased a new position in shares of Manulife Financial in the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Down 1.7%

MFC opened at $31.46 on Thursday. The business has a fifty day moving average of $31.44 and a 200 day moving average of $30.49. Manulife Financial Corp has a 52-week low of $23.30 and a 52-week high of $33.07. The stock has a market cap of $53.73 billion, a P/E ratio of 16.47, a PEG ratio of 1.09 and a beta of 0.99.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). Manulife Financial had a net margin of 9.58% and a return on equity of 15.84%. The business had revenue of $1.49 billion for the quarter. During the same period in the prior year, the firm posted $0.94 EPS. Equities analysts anticipate that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Wednesday, May 21st were issued a dividend of $0.3194 per share. The ex-dividend date was Wednesday, May 21st. This represents a $1.28 dividend on an annualized basis and a yield of 4.06%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.31. Manulife Financial’s payout ratio is presently 67.02%.

Analyst Ratings Changes

Separately, Morgan Stanley set a $46.00 target price on Manulife Financial in a report on Monday, May 19th.

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.