Public Employees Retirement System of Ohio Decreases Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Public Employees Retirement System of Ohio reduced its stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 8.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 217,480 shares of the financial services provider's stock after selling 19,362 shares during the period. Public Employees Retirement System of Ohio's holdings in Manulife Financial were worth $6,679,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FIL Ltd boosted its stake in shares of Manulife Financial by 21.7% in the fourth quarter. FIL Ltd now owns 39,610,614 shares of the financial services provider's stock worth $1,216,880,000 after buying an additional 7,053,066 shares during the last quarter. TD Asset Management Inc. lifted its holdings in Manulife Financial by 0.7% in the fourth quarter. TD Asset Management Inc. now owns 34,803,859 shares of the financial services provider's stock valued at $1,068,654,000 after acquiring an additional 228,863 shares during the period. Toronto Dominion Bank boosted its position in Manulife Financial by 4.1% in the 4th quarter. Toronto Dominion Bank now owns 22,812,909 shares of the financial services provider's stock worth $699,948,000 after purchasing an additional 902,466 shares in the last quarter. Norges Bank acquired a new stake in shares of Manulife Financial during the 4th quarter worth approximately $654,751,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Manulife Financial by 1.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,334,413 shares of the financial services provider's stock worth $347,757,000 after purchasing an additional 190,738 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Stock Up 0.7%

Shares of MFC stock traded up $0.22 during trading hours on Thursday, hitting $31.73. 1,040,258 shares of the company's stock were exchanged, compared to its average volume of 2,141,636. Manulife Financial Co. has a fifty-two week low of $23.30 and a fifty-two week high of $33.07. The firm has a market cap of $54.35 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.11 and a beta of 1.00. The firm has a 50 day moving average of $30.33 and a two-hundred day moving average of $30.58.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.01). The company had revenue of $1.49 billion for the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. During the same period in the previous year, the company earned $0.94 EPS. On average, equities analysts forecast that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Wednesday, May 21st will be given a dividend of $0.3194 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Wednesday, May 21st. This is an increase from Manulife Financial's previous quarterly dividend of $0.31. Manulife Financial's dividend payout ratio is 63.87%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MFC. Scotiabank reiterated an "outperform" rating on shares of Manulife Financial in a research note on Monday, February 3rd. Morgan Stanley set a $46.00 price objective on shares of Manulife Financial in a report on Monday, May 19th. Finally, Royal Bank of Canada increased their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Manulife Financial presently has a consensus rating of "Buy" and a consensus price target of $45.67.

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.