Erste Asset Management GmbH Raises Position in Manulife Financial Co. (NYSE:MFC)

Erste Asset Management GmbH grew its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 0.6% during the fourth quarter, Holdings Channel reports. The fund owned 69,300 shares of the financial services provider’s stock after purchasing an additional 400 shares during the period. Erste Asset Management GmbH’s holdings in Manulife Financial were worth $2,133,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MFC. Crews Bank & Trust purchased a new stake in Manulife Financial in the fourth quarter worth $26,000. Brooklyn Investment Group bought a new stake in shares of Manulife Financial during the 3rd quarter valued at $26,000. Stonebridge Financial Group LLC bought a new stake in shares of Manulife Financial during the 4th quarter valued at $34,000. Golden State Wealth Management LLC purchased a new stake in shares of Manulife Financial in the 4th quarter worth about $35,000. Finally, CKW Financial Group bought a new position in shares of Manulife Financial in the 4th quarter worth about $37,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Performance

NYSE:MFC opened at $29.45 on Friday. The firm has a 50-day simple moving average of $30.07 and a two-hundred day simple moving average of $30.17. The firm has a market cap of $50.73 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a fifty-two week low of $22.61 and a fifty-two week high of $33.07.

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

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.3094 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 4.20%. Manulife Financial’s dividend payout ratio (DPR) is 58.45%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MFC shares. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada upped their price target on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $45.50.

Manulife Financial Profile

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.