Generali Asset Management SPA SGR Buys 47,301 Shares of Manulife Financial Corp $MFC

Generali Asset Management SPA SGR raised its stake in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 1,092.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,632 shares of the financial services provider’s stock after acquiring an additional 47,301 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Manulife Financial were worth $1,873,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Retirement Planning Group LLC bought a new stake in Manulife Financial during the 4th quarter valued at $241,000. Sequoia Financial Advisors LLC grew its position in shares of Manulife Financial by 8.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 81,740 shares of the financial services provider’s stock worth $2,966,000 after buying an additional 6,545 shares during the last quarter. LaFleur & Godfrey LLC bought a new position in shares of Manulife Financial during the 4th quarter worth approximately $258,000. AssuredPartners Investment Advisors LLC bought a new position in shares of Manulife Financial during the 4th quarter worth approximately $696,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in 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 valued at $987,000 after acquiring an additional 329 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a report on Wednesday, April 29th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Manulife Financial in a report on Friday, February 13th. Finally, Weiss Ratings lowered Manulife Financial from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $51.50.

Manulife Financial Trading Up 1.1%

Shares of MFC opened at $40.01 on Friday. Manulife Financial Corp has a 12 month low of $29.70 and a 12 month high of $40.09. The stock has a fifty day moving average price of $35.98 and a 200-day moving average price of $35.75. The firm has a market cap of $66.91 billion, a PE ratio of 18.02 and a beta of 0.87.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.76 by $0.04. The firm had revenue of $11.32 billion during the quarter, compared to analyst estimates of $2.32 billion. Manulife Financial had a return on equity of 16.43% and a net margin of 9.18%.During the same quarter in the prior year, the business posted $1.03 EPS. As a group, research analysts forecast that Manulife Financial Corp will post 3.22 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Wednesday, February 25th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $1.94 annualized dividend and a yield of 4.8%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.44. Manulife Financial’s payout ratio is presently 63.96%.

About Manulife Financial

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.