SVB Wealth LLC Makes New $396,000 Investment in Manulife Financial Co. (NYSE:MFC)

SVB Wealth LLC purchased a new position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,890 shares of the financial services provider’s stock, valued at approximately $396,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MFC. Baron Wealth Management LLC boosted its holdings in Manulife Financial by 2.3% in the 3rd quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider’s stock worth $426,000 after buying an additional 330 shares during the period. Little House Capital LLC lifted its position in shares of Manulife Financial by 1.0% in the fourth quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider’s stock valued at $1,037,000 after acquiring an additional 331 shares in the last quarter. Robertson Stephens Wealth Management LLC boosted its stake in shares of Manulife Financial by 1.5% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider’s stock worth $708,000 after acquiring an additional 339 shares during the period. Addison Advisors LLC grew its position in shares of Manulife Financial by 45.9% during the fourth quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 449 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. raised its stake in Manulife Financial by 3.4% during the 4th quarter. Nicholas Hoffman & Company LLC. now owns 15,817 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 516 shares during the period. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

NYSE:MFC opened at $29.26 on Wednesday. The company has a market cap of $50.41 billion, a price-to-earnings ratio of 14.13, a PEG 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. The stock’s 50 day simple moving average is $30.32 and its two-hundred day simple moving average is $30.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. As a group, 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 issued a $0.3094 dividend. 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 dividend on an annualized basis and a dividend yield of 4.23%. Manulife Financial’s dividend payout ratio (DPR) is presently 58.45%.

Analyst Ratings Changes

MFC has been the subject of a number of research analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada lifted their price target 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 analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company 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.