Mediolanum International Funds Ltd Purchases Shares of 19,332 Manulife Financial Co. (NYSE:MFC)

Mediolanum International Funds Ltd purchased a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the 4th quarter, Holdings Channel reports. The firm purchased 19,332 shares of the financial services provider’s stock, valued at approximately $590,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Crews Bank & Trust purchased a new stake in Manulife Financial in the 4th quarter valued at about $26,000. Lewis Asset Management LLC lifted its stake in shares of Manulife Financial by 21.2% in the 4th quarter. Lewis Asset Management LLC now owns 9,791 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 1,713 shares in the last quarter. OLD National Bancorp IN lifted its stake in shares of Manulife Financial by 10.1% in the 4th quarter. OLD National Bancorp IN now owns 9,029 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 831 shares in the last quarter. CKW Financial Group acquired a new position in shares of Manulife Financial in the 4th quarter valued at about $37,000. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Manulife Financial in the 4th quarter valued at about $138,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

NYSE MFC opened at $29.90 on Monday. The firm has a market capitalization of $51.69 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.05 and a beta of 1.09. Manulife Financial Co. has a 1-year low of $21.54 and a 1-year high of $33.07. The business’s 50-day simple moving average is $30.90 and its 200-day simple moving average is $29.35.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.30. The business had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same period in the previous year, the company posted $0.69 EPS. On average, equities research analysts expect that Manulife Financial Co. will post 2.67 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were given a dividend of $0.296 per share. The ex-dividend date was Wednesday, November 20th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 3.96%. Manulife Financial’s payout ratio is 59.42%.

Manulife Financial Company 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.