Bank Julius Baer & Co. Ltd Zurich Takes $58,000 Position in Manulife Financial Co. (NYSE:MFC)

Bank Julius Baer & Co. Ltd Zurich bought a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,890 shares of the financial services provider’s stock, valued at approximately $58,000.

A number of other institutional investors have also added to or reduced their stakes in MFC. Franklin Resources Inc. increased its holdings in shares of Manulife Financial by 16.4% during the third quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock valued at $61,426,000 after acquiring an additional 279,418 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Manulife Financial by 148.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 73,346 shares of the financial services provider’s stock valued at $2,382,000 after purchasing an additional 43,877 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc raised its holdings in Manulife Financial by 14.9% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider’s stock worth $2,719,000 after buying an additional 11,509 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in Manulife Financial during the third quarter worth $13,318,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Manulife Financial by 4.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,809,774 shares of the financial services provider’s stock valued at $55,578,000 after buying an additional 81,799 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Price Performance

MFC opened at $28.66 on Wednesday. The firm’s fifty day moving average price is $30.17 and its two-hundred day moving average price is $30.18. The company has a market capitalization of $49.38 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 1.11 and a beta of 1.05. 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 issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. The business had revenue of $9.31 billion during the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. As a group, equities analysts anticipate that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.3094 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.32%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, March 5th. Manulife Financial’s dividend payout ratio (DPR) is presently 58.45%.

Analyst Upgrades and Downgrades

MFC has been the subject of several recent research reports. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada boosted their price objective on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $45.50.

About Manulife Financial

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.