Manulife Financial Corp (NYSE:MFC) Position Lowered by National Asset Management Inc.

National Asset Management Inc. reduced its stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 24.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,854 shares of the financial services provider’s stock after selling 8,832 shares during the period. National Asset Management Inc.’s holdings in Manulife Financial Corp were worth $495,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. FMR LLC increased its stake in Manulife Financial Corp by 14.8% in the first quarter. FMR LLC now owns 41,809,722 shares of the financial services provider’s stock worth $741,656,000 after buying an additional 5,378,760 shares in the last quarter. Wellington Management Group LLP increased its stake in Manulife Financial Corp by 51.9% in the first quarter. Wellington Management Group LLP now owns 14,767,058 shares of the financial services provider’s stock worth $261,385,000 after buying an additional 5,046,441 shares in the last quarter. AQR Capital Management LLC boosted its position in Manulife Financial Corp by 2,937.8% in the first quarter. AQR Capital Management LLC now owns 3,503,965 shares of the financial services provider’s stock worth $61,979,000 after buying an additional 3,388,619 shares during the last quarter. Vanguard Group Inc. boosted its position in Manulife Financial Corp by 4.7% in the first quarter. Vanguard Group Inc. now owns 42,156,733 shares of the financial services provider’s stock worth $747,861,000 after buying an additional 1,901,343 shares during the last quarter. Finally, Norges Bank bought a new position in Manulife Financial Corp during the fourth quarter worth $25,346,000. Institutional investors and hedge funds own 48.57% of the company’s stock.

Manulife Financial Corp (MFC) traded up 1.31% during midday trading on Friday, reaching $19.39. The company’s stock had a trading volume of 3,323,109 shares. The firm has a market capitalization of $38.33 billion, a PE ratio of 16.16 and a beta of 1.28. The stock’s 50-day moving average price is $17.69 and its 200 day moving average price is $18.04. Manulife Financial Corp has a 1-year low of $12.69 and a 1-year high of $19.52.

The company also recently declared a quarterly dividend, which was paid on Monday, June 19th. Investors of record on Tuesday, May 16th were paid a $0.1501 dividend. The ex-dividend date of this dividend was Friday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 3.10%. Manulife Financial Corp’s dividend payout ratio (DPR) is 50.85%.

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A number of research analysts recently commented on the company. BidaskClub cut Manulife Financial Corp from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. ValuEngine cut Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Finally, National Bank Financial reissued a “sector perform overweight” rating on shares of Manulife Financial Corp in a research report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Manulife Financial Corp presently has an average rating of “Buy” and an average target price of $21.80.

Manulife Financial Corp Company Profile

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

Institutional Ownership by Quarter for Manulife Financial Corp (NYSE:MFC)

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