Manulife (MFC) Position Cut by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lowered its position in Manulife (NYSE:MFC) (TSE:MFC) by 9.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,785,640 shares of the financial services provider’s stock after selling 186,609 shares during the quarter. O Shaughnessy Asset Management LLC owned approximately 0.09% of Manulife worth $33,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mackenzie Financial Corp raised its holdings in Manulife by 270.1% in the fourth quarter. Mackenzie Financial Corp now owns 49,553,149 shares of the financial services provider’s stock worth $1,033,679,000 after purchasing an additional 36,162,505 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Manulife by 38.3% during the first quarter. CIBC Asset Management Inc now owns 31,217,867 shares of the financial services provider’s stock valued at $578,718,000 after acquiring an additional 8,644,773 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Manulife by 30.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 6,846,084 shares of the financial services provider’s stock valued at $127,200,000 after acquiring an additional 1,601,126 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Manulife by 121.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,796,263 shares of the financial services provider’s stock valued at $58,330,000 after acquiring an additional 1,531,905 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Manulife by 84.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,938,241 shares of the financial services provider’s stock valued at $35,493,000 after acquiring an additional 885,777 shares in the last quarter. 46.40% of the stock is owned by institutional investors and hedge funds.

Manulife traded up $0.10, hitting $19.38, on Monday, Marketbeat reports. The stock had a trading volume of 12,819 shares, compared to its average volume of 2,683,388. Manulife has a 52-week low of $17.03 and a 52-week high of $22.16. The stock has a market capitalization of $38.24 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 1.00 and a beta of 1.34.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 19th. Stockholders of record on Tuesday, May 15th will be given a dividend of $0.171 per share. This is a boost from Manulife’s previous quarterly dividend of $0.13. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Monday, May 14th. Manulife’s payout ratio is presently 40.35%.

Several equities analysts have recently weighed in on MFC shares. TD Securities upgraded Manulife from a “hold” rating to a “buy” rating in a report on Thursday, April 12th. Scotiabank reiterated a “buy” rating and issued a $31.00 price objective on shares of Manulife in a report on Wednesday, January 31st. Zacks Investment Research upgraded Manulife from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Wednesday, February 21st. ValuEngine upgraded Manulife from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Finally, Morgan Stanley reduced their price objective on Manulife from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Thursday, April 5th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $26.67.

About Manulife

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance through insurance agents, brokers, banks, financial planners, and direct marketing.

Institutional Ownership by Quarter for Manulife (NYSE:MFC)

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