Generali Asset Management SPA SGR Takes Position in Manulife Financial Co. (NYSE:MFC)

Generali Asset Management SPA SGR bought a new stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 161,195 shares of the financial services provider’s stock, valued at approximately $4,950,000.

Several other hedge funds have also modified their holdings of MFC. Brooklyn Investment Group purchased a new stake in shares of Manulife Financial during the third quarter valued at $26,000. Crews Bank & Trust purchased a new stake in shares of Manulife Financial during the fourth quarter valued at $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of Manulife Financial during the fourth quarter valued at $34,000. Golden State Wealth Management LLC acquired a new position in Manulife Financial during the fourth quarter valued at $35,000. Finally, CKW Financial Group acquired a new position in Manulife Financial during the fourth quarter valued at $37,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

Shares of MFC stock opened at $30.02 on Wednesday. Manulife Financial Co. has a fifty-two week low of $22.61 and a fifty-two week high of $33.07. The stock’s 50-day moving average is $30.05 and its two-hundred day moving average is $30.25. The firm has a market cap of $51.70 billion, a P/E ratio of 14.50, a PEG ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The company had revenue of $9.31 billion for the quarter. As a group, research analysts expect that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.3094 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 4.12%. The ex-dividend date is Wednesday, March 5th. Manulife Financial’s dividend payout ratio is presently 58.45%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Royal Bank of Canada upped their price target on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, four 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 a consensus rating of “Buy” and an average price target of $45.50.

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.