Generali Asset Management SPA SGR Raises Stock Holdings in Manulife Financial Corp $MFC

Key Points

• Generali Asset Management sharply increased its stake in Manulife Financial, boosting holdings by 1,092.1% in the fourth quarter to 51,632 shares worth about $1.87 million.
• Manulife reported better-than-expected quarterly earnings of $0.80 per share, topping estimates, and analysts currently expect full-year EPS of 3.22.
• The company raised its quarterly dividend to $0.485 per share, or $1.94 annually, for a yield of 4.8%, while analysts maintain an overall Buy consensus with a $51.50 price target.

Generali Asset Management SPA SGR lifted its holdings in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 1,092.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,632 shares of the financial services provider's stock after buying an additional 47,301 shares during the quarter. Generali Asset Management SPA SGR's holdings in Manulife Financial were worth $1,873,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MFC. Retirement Planning Group LLC bought a new position in Manulife Financial in the 4th quarter worth about $241,000. Sequoia Financial Advisors LLC grew its stake in Manulife Financial by 8.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 81,740 shares of the financial services provider's stock worth $2,966,000 after acquiring an additional 6,545 shares in the last quarter. LaFleur & Godfrey LLC bought a new stake in shares of Manulife Financial during the fourth quarter valued at approximately $258,000. AssuredPartners Investment Advisors LLC bought a new stake in shares of Manulife Financial during the fourth quarter valued at approximately $696,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Manulife Financial by 1.2% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,206 shares of the financial services provider's stock valued at $987,000 after acquiring an additional 329 shares in the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Stock Up 1.1%

MFC opened at $40.01 on Friday. The stock's fifty day moving average is $35.98 and its two-hundred day moving average is $35.75. The company has a market capitalization of $66.91 billion, a P/E ratio of 18.02 and a beta of 0.87. Manulife Financial Corp has a 52 week low of $29.70 and a 52 week high of $40.09.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.76 by $0.04. The company had revenue of $11.32 billion for the quarter, compared to the consensus estimate of $2.32 billion. Manulife Financial had a return on equity of 16.43% and a net margin of 9.18%.During the same period last year, the business posted $1.03 EPS. Equities analysts anticipate that Manulife Financial Corp will post 3.22 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 4.8%. The ex-dividend date was Wednesday, February 25th. This is an increase from Manulife Financial's previous quarterly dividend of $0.44. Manulife Financial's dividend payout ratio (DPR) is 63.96%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Manulife Financial in a research note on Friday, February 13th. Weiss Ratings downgraded Manulife Financial from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, April 24th. Finally, Scotiabank restated an "outperform" rating on shares of Manulife Financial in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $51.50.

Manulife Financial Company Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.

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