Generali Asset Management SPA SGR Has $143,000 Stake in Manulife Financial Corp $MFC

Key Points

• Generali Asset Management SPA SGR reduced its stake in Manulife Financial Corp by 88.4%, leaving it with holdings worth $143,000 as of the latest SEC filing.
• Other hedge funds increased their investments in Manulife Financial, with Eastern Bank raising its stake by 156.1% during the same quarter.
• Manulife recently reported earnings of $0.69 per share, missing analysts' expectations, and announced a modest dividend increase to $0.3199 per share.

Generali Asset Management SPA SGR trimmed its holdings in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 88.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,459 shares of the financial services provider's stock after selling 33,995 shares during the period. Generali Asset Management SPA SGR's holdings in Manulife Financial were worth $143,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Eastern Bank increased its stake in Manulife Financial by 156.1% in the second quarter. Eastern Bank now owns 968 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 590 shares during the last quarter. William B. Walkup & Associates Inc. bought a new position in Manulife Financial in the first quarter valued at approximately $43,000. Oliver Lagore Vanvalin Investment Group bought a new position in Manulife Financial in the second quarter valued at approximately $55,000. Carderock Capital Management Inc. bought a new position in Manulife Financial in the second quarter valued at approximately $58,000. Finally, Kozak & Associates Inc. bought a new position in Manulife Financial in the second quarter valued at approximately $61,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Stock Performance

NYSE MFC opened at $31.65 on Friday. The firm's fifty day moving average price is $31.11 and its two-hundred day moving average price is $30.86. The stock has a market cap of $53.63 billion, a PE ratio of 14.13, a PEG ratio of 1.10 and a beta of 0.98. Manulife Financial Corp has a fifty-two week low of $25.92 and a fifty-two week high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its earnings results on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%.The company had revenue of $11.30 billion for the quarter. During the same quarter in the previous year, the firm posted $0.91 earnings per share. As a group, sell-side analysts predict that Manulife Financial Corp will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Wednesday, August 20th were paid a $0.3199 dividend. This is a positive change from Manulife Financial's previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Wednesday, August 20th. Manulife Financial's payout ratio is presently 56.70%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings reissued a "buy (a-)" rating on shares of Manulife Financial in a research note on Wednesday, October 8th. UBS Group started coverage on shares of Manulife Financial in a research note on Thursday. They set a "buy" rating on the stock. Royal Bank Of Canada decreased their target price on shares of Manulife Financial from $51.00 to $49.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Finally, Morgan Stanley set a $47.00 target price on shares of Manulife Financial in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat.com, Manulife Financial presently has a consensus rating of "Buy" and an average target price of $48.00.

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.

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