Bokf Na Sells 435 Shares of Manulife Financial Co. (NYSE:MFC)

Bokf Na cut its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,898 shares of the financial services provider’s stock after selling 435 shares during the period. Bokf Na’s holdings in Manulife Financial were worth $902,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prudential PLC increased its position in shares of Manulife Financial by 11.1% during the fourth quarter. Prudential PLC now owns 1,141,942 shares of the financial services provider’s stock worth $25,235,000 after acquiring an additional 114,213 shares in the last quarter. Duality Advisers LP grew its position in Manulife Financial by 795.2% in the 1st quarter. Duality Advisers LP now owns 217,658 shares of the financial services provider’s stock worth $5,439,000 after purchasing an additional 193,343 shares in the last quarter. Alberta Investment Management Corp grew its position in Manulife Financial by 21.4% in the 4th quarter. Alberta Investment Management Corp now owns 4,182,203 shares of the financial services provider’s stock worth $92,867,000 after purchasing an additional 737,203 shares in the last quarter. Bessemer Group Inc. grew its position in Manulife Financial by 2,913.7% in the 1st quarter. Bessemer Group Inc. now owns 86,615 shares of the financial services provider’s stock worth $2,163,000 after purchasing an additional 83,741 shares in the last quarter. Finally, Claret Asset Management Corp grew its position in Manulife Financial by 1.0% in the 4th quarter. Claret Asset Management Corp now owns 89,860 shares of the financial services provider’s stock worth $1,987,000 after purchasing an additional 904 shares in the last quarter. 52.56% of the stock is owned by institutional investors.

Manulife Financial Trading Up 0.5 %

Shares of MFC stock opened at $28.08 on Monday. The stock has a market capitalization of $49.70 billion, a P/E ratio of 16.33, a PEG ratio of 1.02 and a beta of 1.08. The firm’s 50 day moving average is $26.45 and its 200 day moving average is $25.46. Manulife Financial Co. has a 12 month low of $17.07 and a 12 month high of $28.17.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.27. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. The business had revenue of $9.41 billion for the quarter, compared to analysts’ expectations of $8.95 billion. During the same period in the prior year, the company posted $0.62 EPS. On average, equities analysts predict that Manulife Financial Co. will post 2.72 EPS for the current year.

Manulife Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Wednesday, August 21st. Manulife Financial’s dividend payout ratio is presently 67.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MFC shares. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Barclays initiated coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating on the stock. Finally, TD Securities boosted their target price on shares of Manulife Financial from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.67.

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.