Pictet Asset Management Holding SA Has $22.65 Million Position in Manulife Financial Co. (NYSE:MFC)

Pictet Asset Management Holding SA reduced its stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 737,798 shares of the financial services provider's stock after selling 43,034 shares during the quarter. Pictet Asset Management Holding SA's holdings in Manulife Financial were worth $22,654,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MFC. Franklin Resources Inc. grew its holdings in Manulife Financial by 16.4% during the third quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider's stock valued at $61,426,000 after purchasing an additional 279,418 shares during the period. Sanctuary Advisors LLC increased its position in shares of Manulife Financial by 148.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 73,346 shares of the financial services provider's stock valued at $2,382,000 after buying an additional 43,877 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new stake in Manulife Financial during the 4th quarter worth $330,000. AEGON ASSET MANAGEMENT UK Plc lifted its holdings in Manulife Financial by 14.9% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider's stock worth $2,719,000 after acquiring an additional 11,509 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Manulife Financial by 4.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,809,774 shares of the financial services provider's stock valued at $55,578,000 after acquiring an additional 81,799 shares during the period. 52.56% of the stock is owned by institutional investors.

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Manulife Financial Price Performance

Shares of MFC traded down $2.84 during mid-day trading on Friday, hitting $27.79. 4,745,407 shares of the company's stock were exchanged, compared to its average volume of 2,222,802. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07. The company has a market cap of $47.87 billion, a PE ratio of 13.43, a P/E/G ratio of 1.11 and a beta of 0.89. The company has a 50-day simple moving average of $30.16 and a 200 day simple moving average of $30.52.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The business had revenue of $9.31 billion during the quarter. On average, 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 announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.3094 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.45%. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. Manulife Financial's payout ratio is currently 58.45%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MFC. Royal Bank of Canada boosted their price objective on Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Manulife Financial currently 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.