Vontobel Holding Ltd. Sells 41,300 Shares of Manulife Financial Co. (NYSE:MFC)

Vontobel Holding Ltd. reduced its stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 9.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 414,659 shares of the financial services provider's stock after selling 41,300 shares during the quarter. Vontobel Holding Ltd.'s holdings in Manulife Financial were worth $12,253,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Grove Bank & Trust purchased a new position in shares of Manulife Financial in the 2nd quarter worth about $25,000. West Financial Advisors LLC purchased a new stake in Manulife Financial during the third quarter valued at about $26,000. Bruce G. Allen Investments LLC lifted its holdings in Manulife Financial by 73.6% during the first quarter. Bruce G. Allen Investments LLC now owns 1,156 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 490 shares during the last quarter. Addison Advisors LLC lifted its holdings in Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 467 shares during the last quarter. Finally, HHM Wealth Advisors LLC lifted its holdings in Manulife Financial by 119.0% during the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 600 shares during the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

Shares of MFC traded down $0.11 during midday trading on Thursday, hitting $30.56. 974,721 shares of the company traded hands, compared to its average volume of 2,621,969. The stock has a 50-day moving average of $28.15 and a 200-day moving average of $26.34. Manulife Financial Co. has a one year low of $17.07 and a one year high of $30.86. The firm has a market cap of $54.69 billion, a P/E ratio of 17.77, a PEG ratio of 1.09 and a beta of 1.08.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.27. The firm had revenue of $9.41 billion for the quarter, compared to analysts' expectations of $8.95 billion. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. During the same period in the prior year, the business posted $0.62 earnings per share. Sell-side analysts forecast that Manulife Financial Co. will post 2.73 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 21st were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Wednesday, August 21st. Manulife Financial's dividend payout ratio (DPR) is 66.86%.

Analyst Ratings Changes

Several equities research analysts have commented on MFC shares. Barclays started coverage on shares of Manulife Financial in a report on Thursday, September 5th. They set an "equal weight" rating on the stock. Dbs Bank raised shares of Manulife Financial to a "strong-buy" rating in a report on Thursday, August 8th. Finally, TD Securities upped their price objective on shares of Manulife Financial from $38.00 to $40.00 and gave the company a "buy" rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $35.67.

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.