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

Generali Asset Management SPA SGR acquired a new stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 161,195 shares of the financial services provider’s stock, valued at approximately $4,950,000.

A number of other hedge funds have also made changes to their positions in the stock. Baron Wealth Management LLC increased its holdings in shares of Manulife Financial by 2.3% during the 3rd quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 330 shares during the last quarter. Little House Capital LLC increased its holdings in shares of Manulife Financial by 1.0% during the 4th quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider’s stock valued at $1,037,000 after acquiring an additional 331 shares during the last quarter. Robertson Stephens Wealth Management LLC increased its holdings in shares of Manulife Financial by 1.5% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider’s stock valued at $708,000 after acquiring an additional 339 shares during the last quarter. Erste Asset Management GmbH increased its holdings in shares of Manulife Financial by 0.6% during the 4th quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider’s stock valued at $2,133,000 after acquiring an additional 400 shares during the last quarter. Finally, Addison Advisors LLC increased its holdings in shares of Manulife Financial by 45.9% during the 4th quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 449 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Down 0.2 %

Shares of NYSE:MFC opened at $30.02 on Wednesday. The business has a 50 day moving average price of $30.05 and a 200 day moving average price of $30.25. Manulife Financial Co. has a twelve month low of $22.61 and a twelve month high of $33.07. The company has a market cap of $51.70 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter. Analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.12%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio (DPR) is currently 58.45%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MFC shares. Royal Bank of Canada increased their target price on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Manulife Financial presently has a consensus rating of “Buy” and a consensus 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.