Erste Asset Management GmbH Takes Position in Manulife Financial Co. (NYSE:MFC)

Erste Asset Management GmbH acquired a new position in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 68,900 shares of the financial services provider's stock, valued at approximately $2,036,000.

Other hedge funds have also recently bought and sold shares of the company. Baron Wealth Management LLC grew its position in Manulife Financial by 2.3% during the third quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider's stock valued at $426,000 after buying an additional 330 shares during the period. Americana Partners LLC grew its position in Manulife Financial by 0.5% during the third quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider's stock valued at $2,068,000 after buying an additional 364 shares during the period. Indiana Trust & Investment Management CO raised its stake in Manulife Financial by 22.2% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,540 shares of the financial services provider's stock valued at $68,000 after acquiring an additional 462 shares during the period. Addison Advisors LLC raised its stake in Manulife Financial by 77.2% in the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 467 shares during the period. Finally, LRI Investments LLC raised its stake in Manulife Financial by 8.6% in the 2nd quarter. LRI Investments LLC now owns 6,819 shares of the financial services provider's stock valued at $182,000 after acquiring an additional 542 shares during the period. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Trading Up 0.7 %

Shares of MFC traded up $0.22 during trading hours on Wednesday, reaching $32.29. 1,824,614 shares of the company's stock traded hands, compared to its average volume of 2,530,531. Manulife Financial Co. has a 12 month low of $19.68 and a 12 month high of $33.07. The stock has a market cap of $56.57 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 1.19 and a beta of 1.09. The firm's 50 day simple moving average is $30.92 and its 200-day simple moving average is $28.04.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The business had revenue of $10.69 billion during the quarter, compared to analysts' expectations of $9.73 billion. During the same quarter in the previous year, the company earned $0.69 EPS. As a group, analysts expect that Manulife Financial Co. will post 2.72 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.296 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.18 annualized dividend and a yield of 3.67%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.29. Manulife Financial's payout ratio is 57.00%.

Wall Street Analyst Weigh In

MFC has been the topic of a number of research reports. Dbs Bank upgraded Manulife Financial to a "strong-buy" rating in a research note on Thursday, August 8th. Barclays initiated coverage on Manulife Financial in a research report on Thursday, September 5th. They set an "equal weight" rating on the stock. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $37.50.

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.