Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 2.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 5,845,681 shares of the financial services provider’s stock after selling 156,814 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.30% of Manulife Financial Corp worth $118,515,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Manulife Financial Corp by 15.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 84,067 shares of the financial services provider’s stock worth $1,576,000 after acquiring an additional 11,353 shares during the period. Barometer Capital Management Inc. acquired a new stake in shares of Manulife Financial Corp during the 3rd quarter worth about $11,093,000. Andra AP fonden increased its position in shares of Manulife Financial Corp by 10.1% during the 2nd quarter. Andra AP fonden now owns 178,400 shares of the financial services provider’s stock worth $3,347,000 after purchasing an additional 16,400 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Manulife Financial Corp by 1.3% during the 2nd quarter. Wells Fargo & Company MN now owns 13,554,829 shares of the financial services provider’s stock worth $254,288,000 after purchasing an additional 176,947 shares in the last quarter. Finally, BB&T Corp increased its position in shares of Manulife Financial Corp by 36.6% during the 3rd quarter. BB&T Corp now owns 54,202 shares of the financial services provider’s stock worth $1,100,000 after purchasing an additional 14,525 shares in the last quarter. 45.92% of the stock is owned by institutional investors.

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A number of equities research analysts recently issued reports on MFC shares. Zacks Investment Research upgraded shares of Manulife Financial Corp from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Tuesday, October 10th. Morgan Stanley increased their target price on shares of Manulife Financial Corp from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Finally, ValuEngine cut shares of Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 18th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Manulife Financial Corp presently has a consensus rating of “Buy” and an average target price of $25.00.

Shares of Manulife Financial Corp (NYSE:MFC) traded up $0.07 during trading on Thursday, hitting $21.02. 2,293,900 shares of the company were exchanged, compared to its average volume of 2,395,140. The firm has a market cap of $41,456.80, a PE ratio of 12.11, a P/E/G ratio of 1.26 and a beta of 1.32. Manulife Financial Corp has a 1-year low of $16.62 and a 1-year high of $21.69.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 21st will be given a $0.1606 dividend. This represents a $0.64 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Monday, November 20th. Manulife Financial Corp’s payout ratio is presently 47.14%.

Manulife Financial Corp 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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