Skandinaviska Enskilda Banken AB publ Sells 927,689 Shares of Manulife Financial Corp $MFC

Skandinaviska Enskilda Banken AB publ decreased its holdings in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 75.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 294,881 shares of the financial services provider’s stock after selling 927,689 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Manulife Financial were worth $9,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in MFC. Root Financial Partners LLC bought a new stake in shares of Manulife Financial during the 3rd quarter valued at $25,000. Caldwell Trust Co purchased a new position in Manulife Financial during the 2nd quarter valued at about $27,000. Winnow Wealth LLC bought a new stake in shares of Manulife Financial during the second quarter valued at about $38,000. Goodman Advisory Group LLC purchased a new stake in shares of Manulife Financial in the second quarter worth about $39,000. Finally, Mather Group LLC. bought a new position in shares of Manulife Financial in the third quarter valued at approximately $43,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Stock Performance

NYSE MFC opened at $36.98 on Thursday. Manulife Financial Corp has a 52-week low of $25.92 and a 52-week high of $38.72. The company has a fifty day moving average of $36.96 and a 200-day moving average of $33.86. The company has a market capitalization of $62.00 billion, a P/E ratio of 16.66 and a beta of 0.83.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. Manulife Financial had a return on equity of 16.43% and a net margin of 9.18%.The business had revenue of $11.32 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the business posted $1.03 earnings per share. As a group, analysts forecast that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Wednesday, February 25th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Wednesday, February 25th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.44. Manulife Financial’s dividend payout ratio is presently 56.31%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings lowered shares of Manulife Financial from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, February 13th. Canadian Imperial Bank of Commerce raised shares of Manulife Financial from a “neutral” rating to an “outperform” rating in a report on Thursday, January 8th. Morgan Stanley set a $51.00 price objective on Manulife Financial in a research note on Monday, December 15th. Royal Bank Of Canada restated an “outperform” rating on shares of Manulife Financial in a research note on Friday, February 13th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $51.50.

Manulife Financial Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.