Union Bancaire Privee UBP SA Makes New $138,000 Investment in Manulife Financial Co. (NYSE:MFC)

Union Bancaire Privee UBP SA bought a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,508 shares of the financial services provider’s stock, valued at approximately $138,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its position in Manulife Financial by 5.9% in the 4th quarter. Allianz Asset Management GmbH now owns 1,861,773 shares of the financial services provider’s stock worth $57,166,000 after purchasing an additional 104,419 shares in the last quarter. LMG Wealth Partners LLC increased its stake in shares of Manulife Financial by 6.8% in the 4th quarter. LMG Wealth Partners LLC now owns 55,363 shares of the financial services provider’s stock valued at $1,700,000 after purchasing an additional 3,507 shares in the last quarter. Alberta Investment Management Corp raised its holdings in Manulife Financial by 5.1% in the 4th quarter. Alberta Investment Management Corp now owns 4,896,049 shares of the financial services provider’s stock worth $150,333,000 after purchasing an additional 236,808 shares during the period. Nicholas Hoffman & Company LLC. boosted its position in Manulife Financial by 3.4% during the fourth quarter. Nicholas Hoffman & Company LLC. now owns 15,817 shares of the financial services provider’s stock worth $486,000 after purchasing an additional 516 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Manulife Financial by 11.6% in the fourth quarter. Principal Financial Group Inc. now owns 73,100 shares of the financial services provider’s stock valued at $2,245,000 after purchasing an additional 7,600 shares during the period. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

NYSE MFC opened at $30.74 on Wednesday. Manulife Financial Co. has a 1-year low of $22.61 and a 1-year high of $33.07. The company has a market cap of $52.97 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.11 and a beta of 1.09. The stock’s 50 day simple moving average is $30.30 and its 200-day simple moving average is $29.91.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The company had revenue of $9.31 billion for the quarter. On average, equities research analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.3094 per share. This represents a $1.24 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio is currently 58.45%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada increased their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently 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.