Amundi Has $193.71 Million Holdings in Manulife Financial Co. (NYSE:MFC)

Amundi trimmed its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 6.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,307,754 shares of the financial services provider’s stock after selling 439,610 shares during the period. Amundi owned 0.36% of Manulife Financial worth $193,711,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. National Bank of Canada FI increased its stake in shares of Manulife Financial by 13.5% in the third quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider’s stock valued at $829,374,000 after buying an additional 3,329,892 shares in the last quarter. Geode Capital Management LLC grew its holdings in Manulife Financial by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider’s stock worth $247,473,000 after acquiring an additional 616,517 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Manulife Financial by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,186,930 shares of the financial services provider’s stock valued at $153,455,000 after acquiring an additional 158,216 shares in the last quarter. Alberta Investment Management Corp raised its stake in shares of Manulife Financial by 5.1% in the fourth quarter. Alberta Investment Management Corp now owns 4,896,049 shares of the financial services provider’s stock worth $150,333,000 after acquiring an additional 236,808 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Manulife Financial by 1.8% during the third quarter. The Manufacturers Life Insurance Company now owns 2,035,663 shares of the financial services provider’s stock worth $60,202,000 after purchasing an additional 36,838 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

Shares of NYSE:MFC opened at $29.23 on Monday. The stock has a market cap of $50.37 billion, a price-to-earnings ratio of 14.12, a P/E/G ratio of 1.11 and a beta of 1.05. The company has a 50 day moving average of $30.25 and a 200-day moving average of $30.15. Manulife Financial Co. has a one year low of $22.61 and a one year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. The firm had revenue of $9.31 billion during the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. Equities research analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.3094 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Wednesday, March 5th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio is currently 58.45%.

Analyst Ratings Changes

A number of brokerages recently weighed in on MFC. Royal Bank of Canada raised their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $45.50.

Manulife Financial Profile

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.