Union Bancaire Privee UBP SA Buys Shares of 4,508 Manulife Financial Co. (NYSE:MFC)

Union Bancaire Privee UBP SA purchased a new stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the fourth quarter, HoldingsChannel reports. The firm purchased 4,508 shares of the financial services provider’s stock, valued at approximately $138,000.

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

Manulife Financial Price Performance

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

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

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.3094 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.03%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, March 5th. Manulife Financial’s dividend payout ratio (DPR) is presently 58.45%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MFC shares. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada upped their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $45.50.

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.