Deutsche Bank AG Has $146.63 Million Stock Holdings in Manulife Financial Corp $MFC

Deutsche Bank AG lifted its position in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 4.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,619,502 shares of the financial services provider’s stock after buying an additional 153,072 shares during the quarter. Deutsche Bank AG’s holdings in Manulife Financial were worth $146,626,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Basepoint Wealth LLC bought a new position in Manulife Financial in the 4th quarter valued at approximately $25,000. Hantz Financial Services Inc. bought a new stake in Manulife Financial during the 4th quarter worth approximately $28,000. Canerector Inc. grew its holdings in Manulife Financial by 27.0% during the 1st quarter. Canerector Inc. now owns 800,000 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 170,000 shares during the last quarter. Sfam LLC bought a new stake in Manulife Financial during the 4th quarter worth approximately $28,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Manulife Financial in the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

MFC has been the topic of several analyst reports. Royal Bank Of Canada boosted their price objective on shares of Manulife Financial from $55.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Weiss Ratings raised Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, August 5th. TD Securities reaffirmed a “buy” rating on shares of Manulife Financial in a report on Thursday, August 6th. BMO Capital Markets reiterated an “outperform” rating on shares of Manulife Financial in a research report on Friday, August 7th. Finally, Scotiabank restated an “outperform” rating on shares of Manulife Financial in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $59.00.

Manulife Financial Price Performance

Manulife Financial stock opened at $43.49 on Thursday. The firm has a market capitalization of $72.28 billion, a P/E ratio of 16.23 and a beta of 0.84. Manulife Financial Corp has a one year low of $29.70 and a one year high of $45.33. The business has a fifty day moving average price of $42.38 and a 200-day moving average price of $38.84.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. Manulife Financial had a net margin of 9.99% and a return on equity of 16.68%. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same period last year, the firm earned $0.95 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Sell-side analysts expect that Manulife Financial Corp will post 3.03 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, August 21st will be given a $0.485 dividend. The ex-dividend date is Friday, August 21st. This represents a $1.94 dividend on an annualized basis and a yield of 4.5%. Manulife Financial’s payout ratio is presently 53.36%.

About Manulife Financial

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.