AustralianSuper Pty Ltd Has $163.84 Million Stock Position in Manulife Financial Co. (NYSE:MFC)

AustralianSuper Pty Ltd reduced its position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,544,402 shares of the financial services provider's stock after selling 157,509 shares during the period. AustralianSuper Pty Ltd owned approximately 0.32% of Manulife Financial worth $163,838,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MFC. Grove Bank & Trust bought a new stake in shares of Manulife Financial during the second quarter worth $25,000. West Financial Advisors LLC bought a new stake in shares of Manulife Financial during the third quarter worth $26,000. Addison Advisors LLC grew its stake in shares of Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock worth $29,000 after buying an additional 467 shares during the last quarter. HHM Wealth Advisors LLC grew its stake in shares of 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 worth $29,000 after buying an additional 600 shares during the last quarter. Finally, Sachetta LLC grew its stake in shares of Manulife Financial by 209.5% during the second quarter. Sachetta LLC now owns 1,170 shares of the financial services provider's stock worth $31,000 after buying an additional 792 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Price Performance

Shares of Manulife Financial stock traded down $0.75 during trading on Thursday, hitting $29.21. The company's stock had a trading volume of 3,090,951 shares, compared to its average volume of 2,558,089. Manulife Financial Co. has a 52 week low of $17.31 and a 52 week high of $30.86. The stock has a market cap of $52.28 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 1.10 and a beta of 1.08. The stock has a 50-day moving average price of $28.92 and a two-hundred day moving average price of $26.72.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.27. The company had revenue of $9.41 billion for the quarter, compared to analysts' expectations of $8.95 billion. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. During the same quarter in the previous year, the firm posted $0.62 earnings per share. On average, equities analysts predict that Manulife Financial Co. will post 2.74 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.16 dividend on an annualized basis and a yield of 3.97%. Manulife Financial's dividend payout ratio (DPR) is currently 66.86%.

Analyst Ratings Changes

MFC has been the topic of a number of research reports. Dbs Bank raised shares of Manulife Financial to a "strong-buy" rating in a research note on Thursday, August 8th. Barclays started coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They set an "equal weight" rating on the stock. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $35.67.

Manulife Financial Company 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.