Bank Julius Baer & Co. Ltd Zurich Takes $58,000 Position in Manulife Financial Co. (NYSE:MFC)

Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,890 shares of the financial services provider’s stock, valued at approximately $58,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Brooklyn Investment Group bought a new stake in shares of Manulife Financial during the third quarter worth about $26,000. Crews Bank & Trust acquired a new stake in Manulife Financial during the 4th quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new stake in Manulife Financial during the 3rd quarter worth approximately $30,000. Stonebridge Financial Group LLC bought a new stake in Manulife Financial during the 4th quarter worth approximately $34,000. Finally, Golden State Wealth Management LLC acquired a new position in Manulife Financial in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Trading Up 0.4 %

Shares of MFC opened at $28.66 on Wednesday. The firm’s fifty day simple moving average is $30.17 and its two-hundred day simple moving average is $30.18. Manulife Financial Co. has a 12 month low of $22.61 and a 12 month high of $33.07. The stock has a market capitalization of $49.38 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, beating 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 predict that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.3094 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 4.32%. Manulife Financial’s dividend payout ratio (DPR) is 58.45%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MFC shares. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada raised their price objective on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average 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.