Pictet Asset Management Holding SA Has $22.46 Million Stake in Manulife Financial Corp $MFC

Pictet Asset Management Holding SA trimmed its position in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 654,036 shares of the financial services provider’s stock after selling 24,910 shares during the period. Pictet Asset Management Holding SA’s holdings in Manulife Financial were worth $22,458,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hoge Financial Services LLC boosted its stake in Manulife Financial by 0.9% during the 4th quarter. Hoge Financial Services LLC now owns 31,975 shares of the financial services provider’s stock valued at $1,160,000 after purchasing an additional 272 shares during the period. Kathmere Capital Management LLC increased its position in Manulife Financial by 2.0% in the 4th quarter. Kathmere Capital Management LLC now owns 14,421 shares of the financial services provider’s stock worth $523,000 after buying an additional 277 shares during the period. Americana Partners LLC increased its position in Manulife Financial by 0.5% in the 4th quarter. Americana Partners LLC now owns 59,081 shares of the financial services provider’s stock worth $2,143,000 after buying an additional 295 shares during the period. Bridges Investment Management Inc. lifted its holdings in shares of Manulife Financial by 2.0% during the fourth quarter. Bridges Investment Management Inc. now owns 16,037 shares of the financial services provider’s stock worth $582,000 after buying an additional 321 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Manulife Financial by 1.2% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,206 shares of the financial services provider’s stock worth $987,000 after buying an additional 329 shares during the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Trading Up 0.6%

Shares of NYSE:MFC opened at $40.73 on Thursday. The business has a 50-day moving average price of $39.24 and a two-hundred day moving average price of $37.26. Manulife Financial Corp has a 1-year low of $29.70 and a 1-year high of $41.43. The stock has a market capitalization of $67.85 billion, a P/E ratio of 16.16 and a beta of 0.84.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, May 13th. The financial services provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.02). Manulife Financial had a net margin of 10.19% and a return on equity of 16.58%. The business had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. As a group, equities analysts predict that Manulife Financial Corp will post 3.2 EPS for the current year.

Manulife Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, May 29th were paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Friday, May 29th. Manulife Financial’s dividend payout ratio is presently 56.75%.

Analysts Set New Price Targets

MFC has been the topic of several research analyst reports. TD Securities restated a “buy” rating on shares of Manulife Financial in a research note on Thursday, May 14th. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research note on Wednesday, April 29th. Finally, Weiss Ratings raised shares of Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat.com, Manulife Financial presently has an average rating of “Buy” and a consensus price target of $51.50.

Manulife Financial Company Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.