Twinbeech Capital LP Makes New Investment in Manulife Financial Co. (NYSE:MFC)

Twinbeech Capital LP bought a new position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,538 shares of the financial services provider’s stock, valued at approximately $201,000.

Several other large investors also recently bought and sold shares of the stock. Little House Capital LLC grew its position in Manulife Financial by 1.0% during the 4th quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider’s stock worth $1,037,000 after purchasing an additional 331 shares during the last quarter. Robertson Stephens Wealth Management LLC grew its position in Manulife Financial by 1.5% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider’s stock worth $708,000 after purchasing an additional 339 shares during the last quarter. Erste Asset Management GmbH grew its position in Manulife Financial by 0.6% during the 4th quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider’s stock worth $2,133,000 after purchasing an additional 400 shares during the last quarter. TIAA Trust National Association lifted its stake in Manulife Financial by 5.0% during the 4th quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 404 shares during the period. Finally, Addison Advisors LLC lifted its stake in Manulife Financial by 45.9% during the 4th quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 449 shares during the period. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Trading Up 0.9%

Shares of NYSE MFC opened at $31.21 on Friday. The company has a 50 day simple moving average of $30.27 and a two-hundred day simple moving average of $30.58. Manulife Financial Co. has a 12 month low of $23.30 and a 12 month high of $33.07. The stock has a market cap of $53.45 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.11 and a beta of 1.00.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01). Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The firm had revenue of $1.49 billion during the quarter. During the same period in the prior year, the company posted $0.94 EPS. Analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Wednesday, May 21st will be paid a $0.3194 dividend. This is a boost from Manulife Financial’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend is Wednesday, May 21st. Manulife Financial’s payout ratio is currently 63.87%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Morgan Stanley set a $46.00 price objective on shares of Manulife Financial in a research note on Monday. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Finally, Royal Bank of Canada lifted their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Manulife Financial has a consensus rating of “Buy” and a consensus target price of $45.67.

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.