State of Wyoming Buys 22,444 Shares of Manulife Financial Co. (NYSE:MFC)

State of Wyoming raised its position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 134.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,189 shares of the financial services provider's stock after purchasing an additional 22,444 shares during the quarter. State of Wyoming's holdings in Manulife Financial were worth $1,203,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Crews Bank & Trust acquired a new stake in Manulife Financial in the 4th quarter valued at approximately $26,000. Lee Danner & Bass Inc. bought a new position in shares of Manulife Financial during the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Manulife Financial in the fourth quarter valued at approximately $34,000. Golden State Wealth Management LLC bought a new stake in shares of Manulife Financial in the fourth quarter worth $35,000. Finally, Lazard Asset Management LLC acquired a new position in Manulife Financial during the fourth quarter worth $35,000. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Price Performance

NYSE MFC traded up $0.19 on Friday, hitting $31.13. 467,483 shares of the stock were exchanged, compared to its average volume of 2,439,875. The business's fifty day moving average is $30.25 and its 200 day moving average is $30.57. Manulife Financial Co. has a 52 week low of $23.30 and a 52 week high of $33.07. The company has a market capitalization of $53.31 billion, a PE ratio of 15.04, a P/E/G ratio of 1.11 and a beta of 1.00.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 quarter last year, the firm posted $0.94 earnings per share. Analysts predict that Manulife Financial Co. will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Wednesday, May 21st will be given a $0.3194 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.10%. This is a boost from Manulife Financial's previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, May 21st. Manulife Financial's dividend payout ratio (DPR) is presently 63.87%.

Analysts Set New Price Targets

MFC has been the topic of several recent research reports. Morgan Stanley set a $46.00 price target on shares of Manulife Financial in a research note on Monday. Royal Bank of Canada lifted their target price on Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Finally, Scotiabank reissued an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $45.67.

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.