UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 461,794 Shares of Manulife Financial Co. (NYSE:MFC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 14.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,825,083 shares of the financial services provider's stock after selling 461,794 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.16% of Manulife Financial worth $83,481,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in Manulife Financial in the 3rd quarter valued at approximately $26,000. West Financial Advisors LLC acquired a new stake in Manulife Financial in the 3rd quarter worth about $26,000. Grove Bank & Trust purchased a new position in shares of Manulife Financial during the 2nd quarter worth about $25,000. Capital Performance Advisors LLP purchased a new stake in shares of Manulife Financial during the 3rd quarter valued at $30,000. Finally, Fortitude Family Office LLC purchased a new position in Manulife Financial in the third quarter valued at approximately $31,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Stock Performance

Shares of Manulife Financial stock traded down $0.25 on Tuesday, reaching $32.07. 1,025,998 shares of the company's stock were exchanged, compared to its average volume of 2,521,872. Manulife Financial Co. has a 52 week low of $19.53 and a 52 week high of $33.07. The firm's 50-day moving average is $30.73 and its two-hundred day moving average is $27.93. The company has a market capitalization of $56.18 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 1.19 and a beta of 1.09.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.70 by $0.30. The firm had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same quarter last year, the business posted $0.69 EPS. On average, analysts expect that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.296 per share. This is an increase from Manulife Financial's previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial's payout ratio is currently 57.00%.

Analyst Ratings Changes

A number of research firms have weighed in on MFC. Dbs Bank upgraded Manulife Financial to a "strong-buy" rating in a report on Thursday, August 8th. Barclays started coverage on Manulife Financial in a report on Thursday, September 5th. They issued an "equal weight" rating on the stock. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $37.50.

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.