Manulife Financial Corp $MFC Shares Sold by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec trimmed its holdings in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 52.0% during the first quarter, Holdings Channel.com reports. The fund owned 563,134 shares of the financial services provider’s stock after selling 609,496 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Manulife Financial were worth $17,545,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MFC. Brighton Jones LLC grew its stake in Manulife Financial by 33.9% in the 4th quarter. Brighton Jones LLC now owns 9,393 shares of the financial services provider’s stock valued at $288,000 after acquiring an additional 2,376 shares during the last quarter. Beacon Pointe Advisors LLC acquired a new stake in Manulife Financial in the 4th quarter valued at about $216,000. Northern Trust Corp grew its stake in Manulife Financial by 25.2% in the 4th quarter. Northern Trust Corp now owns 2,089,929 shares of the financial services provider’s stock valued at $64,182,000 after acquiring an additional 420,722 shares during the last quarter. Lido Advisors LLC grew its stake in Manulife Financial by 199.2% in the 4th quarter. Lido Advisors LLC now owns 37,732 shares of the financial services provider’s stock valued at $1,159,000 after acquiring an additional 25,123 shares during the last quarter. Finally, Triumph Capital Management grew its stake in Manulife Financial by 16.0% in the 4th quarter. Triumph Capital Management now owns 13,297 shares of the financial services provider’s stock valued at $408,000 after acquiring an additional 1,833 shares during the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Trading Up 0.8%

Shares of NYSE:MFC opened at $30.34 on Thursday. The stock’s 50-day moving average price is $30.82 and its two-hundred day moving average price is $30.57. Manulife Financial Corp has a 12-month low of $25.92 and a 12-month high of $33.07. The firm has a market cap of $51.53 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 1.01 and a beta of 1.01.

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

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.3199 per share. This is a boost 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 4.2%. The ex-dividend date is Wednesday, August 20th. Manulife Financial’s payout ratio is presently 56.70%.

Wall Street Analysts Forecast Growth

MFC has been the topic of a number of research reports. Royal Bank Of Canada lowered their price objective on shares of Manulife Financial from $51.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Morgan Stanley set a $48.00 target price on shares of Manulife Financial in a research note on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $48.50.

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.