976,488 Shares in Manulife Financial Corp $MFC Purchased by SEB Asset Management AB

SEB Asset Management AB acquired a new position in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 976,488 shares of the financial services provider’s stock, valued at approximately $33,531,000.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Manulife Financial during the 4th quarter worth approximately $777,229,000. MUFG Securities EMEA plc increased its stake in shares of Manulife Financial by 814.3% in the 2nd quarter. MUFG Securities EMEA plc now owns 6,399,999 shares of the financial services provider’s stock valued at $204,544,000 after purchasing an additional 5,699,999 shares during the last quarter. Man Group plc increased its stake in shares of Manulife Financial by 194.9% in the 4th quarter. Man Group plc now owns 6,205,598 shares of the financial services provider’s stock valued at $225,597,000 after purchasing an additional 4,101,390 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Manulife Financial by 1,975.2% during the 4th quarter. Janus Henderson Group PLC now owns 4,045,488 shares of the financial services provider’s stock worth $147,312,000 after buying an additional 3,850,547 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Manulife Financial by 931.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,124,519 shares of the financial services provider’s stock valued at $149,778,000 after buying an additional 3,724,519 shares in the last quarter. 52.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MFC shares. Weiss Ratings upgraded shares of Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, May 28th. Zacks Research downgraded Manulife Financial from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 15th. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research report on Wednesday. Finally, TD Securities reissued a “buy” rating on shares of Manulife Financial in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $51.50.

Manulife Financial Price Performance

NYSE MFC opened at $43.38 on Monday. Manulife Financial Corp has a one year low of $29.70 and a one year high of $43.55. The stock has a market capitalization of $72.09 billion, a P/E ratio of 17.21 and a beta of 0.84. The business has a 50 day simple moving average of $39.93 and a 200 day simple moving average of $37.73.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, May 13th. The financial services provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.02). The company had revenue of $8.89 billion for the quarter, compared to analyst estimates of $2.32 billion. Manulife Financial had a net margin of 10.19% and a return on equity of 16.58%. During the same quarter in the prior year, the company posted $0.99 EPS. Equities analysts expect that Manulife Financial Corp will post 3.03 earnings per share for the current year.

Manulife Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, May 29th were issued a dividend of $0.485 per share. The ex-dividend date was Friday, May 29th. This represents a $1.94 annualized dividend and a yield of 4.5%. Manulife Financial’s dividend payout ratio is 56.75%.

Manulife Financial Profile

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.