Zurcher Kantonalbank Zurich Cantonalbank Has $41.46 Million Stake in Manulife Financial Co. (NYSE:MFC)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 8.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,401,349 shares of the financial services provider's stock after selling 128,027 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.08% of Manulife Financial worth $41,461,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MFC. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Manulife Financial by 1,210.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,161,059 shares of the financial services provider's stock worth $30,922,000 after purchasing an additional 1,072,474 shares in the last quarter. Legal & General Group Plc lifted its holdings in Manulife Financial by 0.5% during the second quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider's stock worth $393,592,000 after acquiring an additional 75,244 shares in the last quarter. Toronto Dominion Bank grew its stake in Manulife Financial by 3.2% in the second quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider's stock valued at $640,411,000 after acquiring an additional 750,422 shares during the period. Sumitomo Life Insurance Co. bought a new stake in shares of Manulife Financial in the second quarter worth about $794,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Manulife Financial during the third quarter worth about $956,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MFC. Barclays began coverage on Manulife Financial in a research report on Thursday, September 5th. They issued an "equal weight" rating for the company. Dbs Bank upgraded shares of Manulife Financial to a "strong-buy" rating in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $37.50.

Manulife Financial Stock Performance

NYSE MFC traded up $0.27 during trading hours on Friday, hitting $32.17. 790,252 shares of the company traded hands, compared to its average volume of 2,532,668. The business's 50-day moving average is $30.73 and its 200-day moving average is $27.91. The stock has a market capitalization of $56.35 billion, a price-to-earnings ratio of 15.54, a P/E/G ratio of 1.17 and a beta of 1.08. Manulife Financial Co. has a twelve month low of $19.23 and a twelve month high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.30. The business had revenue of $10.69 billion during the quarter, compared to analysts' expectations of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same period last year, the business earned $0.69 earnings per share. Analysts predict that Manulife Financial Co. will post 2.72 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be given a $0.296 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.68%. This is a boost from Manulife Financial's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial's dividend payout ratio (DPR) is presently 57.00%.

Manulife Financial 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.