Neuberger Berman Group LLC Sells 4,930 Shares of Manulife Financial Co. (MFC)

Neuberger Berman Group LLC lowered its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 7.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,415 shares of the financial services provider’s stock after selling 4,930 shares during the period. Neuberger Berman Group LLC’s holdings in Manulife Financial were worth $1,185,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Guardian Capital Advisors LP boosted its position in Manulife Financial by 3.6% in the third quarter. Guardian Capital Advisors LP now owns 106,298 shares of the financial services provider’s stock valued at $2,766,000 after buying an additional 3,685 shares during the last quarter. Jane Street Group LLC lifted its holdings in Manulife Financial by 43.4% in the third quarter. Jane Street Group LLC now owns 425,105 shares of the financial services provider’s stock valued at $8,626,000 after acquiring an additional 128,616 shares during the period. First Republic Investment Management Inc. lifted its holdings in Manulife Financial by 10.5% in the third quarter. First Republic Investment Management Inc. now owns 85,650 shares of the financial services provider’s stock valued at $1,738,000 after acquiring an additional 8,108 shares during the period. Allianz Asset Management GmbH lifted its holdings in Manulife Financial by 1.8% in the third quarter. Allianz Asset Management GmbH now owns 4,242,513 shares of the financial services provider’s stock valued at $85,859,000 after acquiring an additional 73,427 shares during the period. Finally, Citizens Financial Group Inc. RI lifted its holdings in Manulife Financial by 3,803.6% in the third quarter. Citizens Financial Group Inc. RI now owns 6,441 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 6,276 shares during the period. Hedge funds and other institutional investors own 46.51% of the company’s stock.

A number of research analysts have issued reports on MFC shares. Zacks Investment Research downgraded Manulife Financial from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Morgan Stanley boosted their price target on Manulife Financial from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Finally, ValuEngine downgraded Manulife Financial from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $25.00.

Manulife Financial Co. (NYSE MFC) opened at $20.86 on Tuesday. Manulife Financial Co. has a twelve month low of $16.62 and a twelve month high of $21.69. The stock has a market capitalization of $41,278.71, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 21st were issued a $0.1606 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Monday, November 20th. Manulife Financial’s payout ratio is presently 45.71%.

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Manulife Financial Company Profile

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

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Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

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