UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 461,794 Shares of Manulife Financial Co. (NYSE:MFC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 14.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,825,083 shares of the financial services provider’s stock after selling 461,794 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of Manulife Financial worth $83,481,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Cetera Investment Advisers increased its holdings in Manulife Financial by 386.1% during the 1st quarter. Cetera Investment Advisers now owns 144,854 shares of the financial services provider’s stock worth $3,620,000 after purchasing an additional 115,053 shares in the last quarter. Cetera Advisors LLC raised its position in Manulife Financial by 90.4% in the 1st quarter. Cetera Advisors LLC now owns 99,602 shares of the financial services provider’s stock valued at $2,489,000 after buying an additional 47,303 shares during the last quarter. Mather Group LLC. lifted its stake in Manulife Financial by 2,160.9% in the 2nd quarter. Mather Group LLC. now owns 6,828 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 6,526 shares in the last quarter. Trust Co. of Vermont boosted its position in Manulife Financial by 44.0% during the 2nd quarter. Trust Co. of Vermont now owns 2,208 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 675 shares during the last quarter. Finally, Aprio Wealth Management LLC grew its stake in shares of Manulife Financial by 5.9% during the 2nd quarter. Aprio Wealth Management LLC now owns 11,470 shares of the financial services provider’s stock worth $305,000 after acquiring an additional 635 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Barclays began coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They set an “equal weight” rating for the company. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $37.50.

Manulife Financial Price Performance

Shares of MFC stock opened at $32.31 on Tuesday. The company has a fifty day moving average price of $30.73 and a two-hundred day moving average price of $27.93. Manulife Financial Co. has a one year low of $19.53 and a one year high of $33.07. The stock has a market cap of $56.59 billion, a P/E ratio of 15.61, a P/E/G ratio of 1.18 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its 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. The business had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same period last year, the business posted $0.69 EPS. As a group, equities research analysts anticipate that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Increases Dividend

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