Allianz Asset Management GmbH Raises Holdings in Manulife Financial Co. (NYSE:MFC)

Allianz Asset Management GmbH lifted its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 owned about 0.11% of Manulife Financial worth $57,166,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brooklyn Investment Group purchased a new position in shares of Manulife Financial during the 3rd quarter worth approximately $26,000. Crews Bank & Trust purchased a new position in shares of Manulife Financial during the 4th quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new position in shares of Manulife Financial during the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC purchased a new position in shares of Manulife Financial during the 3rd quarter worth approximately $31,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Manulife Financial during the 4th quarter worth approximately $34,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

NYSE MFC opened at $30.36 on Friday. Manulife Financial Co. has a 1-year low of $22.61 and a 1-year high of $33.07. The company has a market capitalization of $52.32 billion, a P/E ratio of 14.67, a PEG ratio of 1.11 and a beta of 1.09. The business has a 50 day moving average price of $30.32 and a 200 day moving average price of $29.79.

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, beating the consensus estimate of $0.67 by $0.07. The firm had revenue of $9.31 billion during the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. On average, research analysts expect 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. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.3094 per share. 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 yield of 4.08%. Manulife Financial’s dividend payout ratio (DPR) is presently 59.42%.

Analyst Ratings Changes

MFC has been the subject of a number of analyst reports. Royal Bank of Canada increased their target price on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus 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.