Vise Technologies Inc. Sells 4,917 Shares of Manulife Financial Co. (NYSE:MFC)

Vise Technologies Inc. trimmed its holdings in Manulife Financial Co. (NYSE:MFCFree Report) (TSE:MFC) by 19.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,043 shares of the financial services provider’s stock after selling 4,917 shares during the period. Vise Technologies Inc.’s holdings in Manulife Financial were worth $443,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in Manulife Financial during the 4th quarter worth $1,846,000. Raymond James Financial Services Advisors Inc. raised its holdings in Manulife Financial by 109.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 199,140 shares of the financial services provider’s stock valued at $4,401,000 after acquiring an additional 104,026 shares during the period. Blue Trust Inc. grew its stake in Manulife Financial by 5.7% in the 4th quarter. Blue Trust Inc. now owns 10,465 shares of the financial services provider’s stock worth $231,000 after buying an additional 568 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Manulife Financial by 44.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 86,268 shares of the financial services provider’s stock valued at $1,577,000 after purchasing an additional 26,369 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in Manulife Financial by 11.2% in the 4th quarter. AustralianSuper Pty Ltd now owns 5,793,161 shares of the financial services provider’s stock worth $128,019,000 after purchasing an additional 582,468 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Trading Up 0.5 %

NYSE:MFC traded up $0.14 during trading hours on Wednesday, hitting $26.15. The company’s stock had a trading volume of 1,785,421 shares, compared to its average volume of 3,226,965. Manulife Financial Co. has a 52-week low of $17.07 and a 52-week high of $26.27. The stock has a market capitalization of $46.96 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 0.95 and a beta of 1.08. The stock has a fifty day moving average of $24.11 and a 200-day moving average of $22.23.

Manulife Financial (NYSE:MFCGet Free Report) (TSE:MFC) last released its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. Manulife Financial had a net margin of 9.28% and a return on equity of 16.27%. The firm had revenue of $10.96 billion for the quarter, compared to analyst estimates of $7.57 billion. On average, sell-side analysts forecast that Manulife Financial Co. will post 2.72 earnings per share for the current year.

Manulife Financial Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be issued a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $1.16 annualized dividend and a yield of 4.44%. Manulife Financial’s dividend payout ratio (DPR) is presently 69.19%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MFC shares. Desjardins raised Manulife Financial from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. Jefferies Financial Group began coverage on Manulife Financial in a report on Thursday, February 22nd. They issued a “buy” rating on the stock. National Bank Financial raised Manulife Financial from a “sector perform” rating to an “outperform” rating in a research note on Thursday, May 9th. Finally, BMO Capital Markets upgraded Manulife Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $31.00 to $35.00 in a report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

Check Out Our Latest Analysis on Manulife Financial

Manulife Financial Profile

(Free Report)

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.

See Also

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

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