Manulife Financial Co. (NYSE:MFC) Shares Acquired by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lifted its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,020,377 shares of the financial services provider’s stock after acquiring an additional 3,088 shares during the period. State of Tennessee Department of Treasury’s holdings in Manulife Financial were worth $31,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky lifted its stake in Manulife Financial by 37.9% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 621,660 shares of the financial services provider’s stock worth $19,091,000 after purchasing an additional 170,960 shares in the last quarter. Transce3nd LLC purchased a new position in Manulife Financial during the fourth quarter worth approximately $42,000. Natixis boosted its stake in Manulife Financial by 25.7% during the fourth quarter. Natixis now owns 228,521 shares of the financial services provider’s stock worth $7,018,000 after buying an additional 46,775 shares during the last quarter. First Trust Advisors LP grew its holdings in Manulife Financial by 3.6% in the 4th quarter. First Trust Advisors LP now owns 349,842 shares of the financial services provider’s stock valued at $10,746,000 after buying an additional 12,256 shares in the last quarter. Finally, Commerce Bank increased its stake in shares of Manulife Financial by 17.6% in the 4th quarter. Commerce Bank now owns 16,106 shares of the financial services provider’s stock worth $495,000 after acquiring an additional 2,410 shares during the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Price Performance

NYSE MFC opened at $28.42 on Tuesday. The stock has a market capitalization of $48.83 billion, a P/E ratio of 13.73, a PEG ratio of 1.11 and a beta of 0.89. The firm’s 50-day moving average is $29.71 and its two-hundred day moving average is $30.42. Manulife Financial Co. has a 12 month low of $22.96 and a 12 month 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 EPS for the quarter, topping the consensus estimate of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The firm 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.3094 dividend. The ex-dividend date was Wednesday, March 5th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.35%. Manulife Financial’s payout ratio is presently 58.45%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MFC. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada raised their price target on shares of 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $45.50.

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.