Manulife Financial Co. (NYSE:MFC) Shares Bought by TIAA Trust National Association

TIAA Trust National Association increased its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,419 shares of the financial services provider’s stock after acquiring an additional 404 shares during the quarter. TIAA Trust National Association’s holdings in Manulife Financial were worth $259,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

MFC has been the topic of several research analyst reports. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada lifted their price target on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Manulife Financial presently has an average rating of “Buy” and an average price target of $45.50.

Manulife Financial Stock Performance

Shares of MFC opened at $30.77 on Friday. The company has a market capitalization of $53.01 billion, a PE ratio of 14.87, a PEG ratio of 1.11 and a beta of 1.05. The company’s 50 day moving average price is $30.14 and its 200 day moving average price is $30.40. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, beating 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 business had revenue of $9.31 billion for the quarter. 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 company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.3094 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase 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 4.02%. Manulife Financial’s dividend payout ratio (DPR) is 58.45%.

About Manulife Financial

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.