TIAA Trust National Association Purchases 404 Shares of Manulife Financial Co. (NYSE:MFC)

TIAA Trust National Association increased its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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.

A number of other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of Manulife Financial in the third quarter worth about $26,000. 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 Manulife Financial in the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Manulife Financial during the fourth quarter worth approximately $34,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Manulife Financial in the fourth quarter valued at approximately $35,000. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Trading Down 1.1 %

MFC opened at $30.77 on Friday. The stock’s 50 day simple moving average is $30.14 and its 200-day simple moving average is $30.40. The stock has a market cap of $53.01 billion, a PE ratio of 14.87, a P/E/G ratio of 1.11 and a beta of 1.05. Manulife Financial Co. has a 1 year low of $22.61 and a 1 year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The company had revenue of $9.31 billion during the quarter. 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 disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.3094 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.02%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, March 5th. Manulife Financial’s payout ratio is presently 58.45%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada upped their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target 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.