Erste Asset Management GmbH Increases Holdings in Manulife Financial Co. (NYSE:MFC)

Erste Asset Management GmbH boosted its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,300 shares of the financial services provider’s stock after buying an additional 400 shares during the quarter. Erste Asset Management GmbH’s holdings in Manulife Financial were worth $2,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of MFC. National Bank of Canada FI lifted its holdings in shares of Manulife Financial by 13.5% in the 3rd quarter. National Bank of Canada FI now owns 28,063,936 shares of the financial services provider’s stock worth $829,374,000 after acquiring an additional 3,329,892 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Manulife Financial by 1.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,334,413 shares of the financial services provider’s stock worth $347,757,000 after purchasing an additional 190,738 shares during the period. Geode Capital Management LLC lifted its stake in Manulife Financial by 8.1% in the third quarter. Geode Capital Management LLC now owns 8,273,260 shares of the financial services provider’s stock worth $247,473,000 after purchasing an additional 616,517 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Manulife Financial by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,186,930 shares of the financial services provider’s stock valued at $153,455,000 after buying an additional 158,216 shares during the period. Finally, Alberta Investment Management Corp grew its stake in shares of Manulife Financial by 5.1% during the fourth quarter. Alberta Investment Management Corp now owns 4,896,049 shares of the financial services provider’s stock valued at $150,333,000 after buying an additional 236,808 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Trading Up 3.7 %

Manulife Financial stock opened at $29.45 on Friday. 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 1-year low of $22.61 and a 1-year high of $33.07. The firm has a 50-day moving average of $30.07 and a 200-day moving average of $30.17.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data 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 business had revenue of $9.31 billion during the quarter. Research analysts forecast that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

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

Analyst Ratings Changes

MFC has been the subject of a number of recent research reports. Royal Bank of Canada boosted 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 reiterated an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price 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.