Capital Guardian Trust Co. lowered its stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 11.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,800 shares of the financial services provider’s stock after selling 8,748 shares during the period. Capital Guardian Trust Co.’s holdings in Manulife Financial Corp were worth $1,271,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Ronald Blue & Co. LLC boosted its stake in shares of Manulife Financial Corp by 0.7% during the 2nd quarter. Ronald Blue & Co. LLC now owns 12,997 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 93 shares in the last quarter. MML Investors Services LLC increased its holdings in shares of Manulife Financial Corp by 1.6% during the 2nd quarter. MML Investors Services LLC now owns 16,014 shares of the financial services provider’s stock valued at $300,000 after acquiring an additional 245 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Manulife Financial Corp by 0.9% during the 2nd quarter. Bessemer Group Inc. now owns 29,736 shares of the financial services provider’s stock valued at $558,000 after acquiring an additional 261 shares during the last quarter. Park National Corp OH increased its holdings in shares of Manulife Financial Corp by 3.9% during the 2nd quarter. Park National Corp OH now owns 13,525 shares of the financial services provider’s stock valued at $254,000 after acquiring an additional 508 shares during the last quarter. Finally, M&T Bank Corp raised its stake in shares of Manulife Financial Corp by 1.8% in the 2nd quarter. M&T Bank Corp now owns 41,840 shares of the financial services provider’s stock valued at $785,000 after acquiring an additional 754 shares in the last quarter. 45.96% of the stock is owned by institutional investors.

Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Manulife Financial Corp from a “sell” rating to a “hold” rating and set a $22.00 target price for the company in a report on Monday, July 10th. BidaskClub upgraded Manulife Financial Corp from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, ValuEngine downgraded Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Manulife Financial Corp presently has a consensus rating of “Buy” and an average target price of $23.33.

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Manulife Financial Corp (MFC) traded down 0.123% during midday trading on Tuesday, reaching $20.225. 334,028 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $19.82 and a 200 day moving average price of $18.67. Manulife Financial Corp has a 52 week low of $13.99 and a 52 week high of $20.84. The company has a market cap of $40.01 billion, a price-to-earnings ratio of 13.421 and a beta of 1.29.

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The firm had revenue of $12.34 billion during the quarter, compared to analyst estimates of $16.09 billion. During the same quarter in the prior year, the business earned $0.40 EPS. Analysts anticipate that Manulife Financial Corp will post $1.82 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Tuesday, August 22nd were paid a dividend of $0.1621 per share. The ex-dividend date of this dividend was Friday, August 18th. This is a positive change from Manulife Financial Corp’s previous quarterly dividend of $0.15. This represents a $0.65 annualized dividend and a dividend yield of 3.20%. Manulife Financial Corp’s payout ratio is currently 47.83%.

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.

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

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