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

State of Tennessee Department of Treasury grew 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 SEC. The firm owned 1,020,377 shares of the financial services provider’s stock after purchasing an additional 3,088 shares during the period. State of Tennessee Department of Treasury owned approximately 0.06% of Manulife Financial worth $31,331,000 at the end of the most recent quarter.

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

Manulife Financial Stock Performance

MFC opened at $28.42 on Tuesday. The company has a fifty day moving average of $29.71 and a two-hundred day moving average of $30.42. Manulife Financial Co. has a fifty-two week low of $22.96 and a fifty-two week high of $33.07. The stock has a market capitalization of $48.83 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.11 and a beta of 0.89.

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 for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The company had revenue of $9.31 billion during the quarter. On average, equities research analysts forecast that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.3094 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a yield of 4.35%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio (DPR) is currently 58.45%.

Analyst Ratings Changes

Several brokerages have weighed in on MFC. Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada raised their target price on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. One 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. Based on data from MarketBeat.com, the stock presently has a consensus 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.