Assenagon Asset Management S.A. Purchases 627,614 Shares of Manulife Financial Co. (NYSE:MFC)

Assenagon Asset Management S.A. grew its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1,067.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 686,418 shares of the financial services provider’s stock after buying an additional 627,614 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Manulife Financial were worth $21,080,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in shares of Manulife Financial during the third quarter valued at approximately $26,000. West Financial Advisors LLC bought a new position in Manulife Financial in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP purchased a new stake in shares of Manulife Financial during the 3rd quarter valued at $30,000. Fortitude Family Office LLC bought a new stake in shares of Manulife Financial during the 3rd quarter worth $31,000. Finally, Tsfg LLC boosted its holdings in shares of Manulife Financial by 103.8% in the 3rd quarter. Tsfg LLC now owns 1,404 shares of the financial services provider’s stock worth $42,000 after buying an additional 715 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Performance

NYSE MFC opened at $30.58 on Friday. The company has a market capitalization of $52.86 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 1.01 and a beta of 1.09. Manulife Financial Co. has a 52-week low of $20.78 and a 52-week high of $33.07. The company has a 50-day simple moving average of $31.34 and a 200 day simple moving average of $29.06.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted 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 company had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $9.73 billion. During the same quarter in the previous year, the firm posted $0.69 EPS. As a group, analysts forecast that Manulife Financial Co. will post 2.71 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were issued a $0.296 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $1.18 annualized dividend and a yield of 3.87%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. Manulife Financial’s dividend payout ratio (DPR) is 59.42%.

Manulife Financial 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.