Allianz Asset Management GmbH Grows Position in Manulife Financial Co. (NYSE:MFC)

Allianz Asset Management GmbH grew its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,861,773 shares of the financial services provider’s stock after buying an additional 104,419 shares during the period. Allianz Asset Management GmbH’s holdings in Manulife Financial were worth $57,166,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MFC. Franklin Resources Inc. grew its position in shares of Manulife Financial by 16.4% in the third quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock valued at $61,426,000 after purchasing an additional 279,418 shares during the period. Sanctuary Advisors LLC grew its position in shares of Manulife Financial by 148.9% in the third quarter. Sanctuary Advisors LLC now owns 73,346 shares of the financial services provider’s stock valued at $2,382,000 after purchasing an additional 43,877 shares during the period. AEGON ASSET MANAGEMENT UK Plc grew its position in shares of Manulife Financial by 14.9% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider’s stock valued at $2,719,000 after purchasing an additional 11,509 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Manulife Financial in the third quarter valued at $13,318,000. Finally, DRW Securities LLC purchased a new stake in shares of Manulife Financial in the third quarter valued at $1,008,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Trading Down 4.6 %

MFC stock opened at $30.36 on Friday. The stock has a 50-day moving average price of $30.32 and a two-hundred day moving average price of $29.79. Manulife Financial Co. has a 12-month low of $22.61 and a 12-month high of $33.07. The company has a market cap of $52.32 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.11 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.31 billion during the quarter. Equities analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.3094 dividend. 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 4.08%. Manulife Financial’s dividend payout ratio is presently 59.42%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MFC. Royal Bank of Canada lifted their price objective on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Manulife Financial 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.