United Services Automobile Association Decreases Stock Holdings in Manulife Financial Co. (NYSE:MFC)

United Services Automobile Association lowered its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,529 shares of the financial services provider’s stock after selling 1,666 shares during the period. United Services Automobile Association’s holdings in Manulife Financial were worth $1,828,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. National Bank of Canada FI boosted its stake in 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 acquiring an additional 3,329,892 shares during the last quarter. Hillsdale Investment Management Inc. lifted its stake in Manulife Financial by 216.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 2,545,393 shares of the financial services provider’s stock valued at $78,110,000 after purchasing an additional 1,739,853 shares during the last quarter. Bridgewater Associates LP grew its holdings in Manulife Financial by 169.6% during the third quarter. Bridgewater Associates LP now owns 1,404,481 shares of the financial services provider’s stock valued at $41,554,000 after purchasing an additional 883,624 shares during the period. Assenagon Asset Management S.A. increased its position in Manulife Financial by 1,067.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 686,418 shares of the financial services provider’s stock worth $21,080,000 after buying an additional 627,614 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Manulife Financial by 8.1% in the third quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider’s stock valued at $247,473,000 after buying an additional 616,517 shares during the period. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Performance

NYSE:MFC opened at $30.45 on Monday. The business’s fifty day moving average is $30.05 and its 200 day moving average is $30.31. The firm has a market cap of $52.45 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a 52-week low of $22.61 and a 52-week high of $33.07.

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

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.3094 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 4.06%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio (DPR) is currently 58.45%.

Analyst Ratings Changes

MFC has been the subject of several research reports. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada lifted their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $45.50.

About Manulife Financial

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.