Teachers Retirement System of The State of Kentucky Raises Stock Position in Manulife Financial Co. (NYSE:MFC)

Teachers Retirement System of The State of Kentucky increased its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 37.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 621,660 shares of the financial services provider's stock after purchasing an additional 170,960 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Manulife Financial were worth $19,091,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MFC. Little House Capital LLC lifted its position 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 valued at $1,037,000 after acquiring an additional 331 shares in the last quarter. Robertson Stephens Wealth Management LLC lifted its position in shares of Manulife Financial by 1.5% during 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 buying 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 purchasing an additional 400 shares in the last quarter. TIAA Trust National Association raised its holdings in Manulife Financial by 5.0% during the 4th quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider's stock valued at $259,000 after acquiring an additional 404 shares during the period. Finally, Addison Advisors LLC lifted its holdings in Manulife Financial by 45.9% during the 4th quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider's stock worth $44,000 after purchasing an additional 449 shares in the last quarter. Institutional investors own 52.56% of the company's stock.

Manulife Financial Price Performance

Shares of Manulife Financial stock traded up $0.05 during trading on Friday, hitting $30.26. 1,078,617 shares of the company's stock traded hands, compared to its average volume of 2,235,779. The business has a 50-day simple moving average of $29.72 and a 200-day simple moving average of $30.41. Manulife Financial Co. has a 1 year low of $23.27 and a 1 year high of $33.07. The stock has a market capitalization of $52.00 billion, a P/E ratio of 14.62, a PEG ratio of 1.11 and a beta of 0.89.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.07. The company had revenue of $9.31 billion for the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. On average, equities analysts predict that Manulife Financial Co. will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.3094 per share. This represents a $1.24 annualized dividend and a dividend yield of 4.09%. This is a boost from Manulife Financial's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. Manulife Financial's dividend payout ratio is currently 58.45%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MFC. Scotiabank reiterated an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada upped their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Friday, February 21st. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $45.50.

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.