Maryland State Retirement & Pension System Has $6.68 Million Holdings in Manulife Financial Co. (NYSE:MFC)

Maryland State Retirement & Pension System lifted its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 217,498 shares of the financial services provider’s stock after acquiring an additional 5,285 shares during the period. Maryland State Retirement & Pension System’s holdings in Manulife Financial were worth $6,679,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MFC. Crews Bank & Trust bought a new stake in shares of Manulife Financial in the 4th quarter worth approximately $26,000. Brooklyn Investment Group bought a new position in Manulife Financial in the third quarter worth $26,000. Stonebridge Financial Group LLC acquired a new stake in Manulife Financial during the fourth quarter worth $34,000. Golden State Wealth Management LLC bought a new stake in Manulife Financial in the 4th quarter valued at $35,000. Finally, CKW Financial Group acquired a new position in shares of Manulife Financial in the 4th quarter valued at $37,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Performance

Shares of NYSE:MFC opened at $30.51 on Thursday. The company’s fifty day moving average is $30.04 and its 200-day moving average is $30.25. Manulife Financial Co. has a 52 week low of $22.61 and a 52 week high of $33.07. The company has a market capitalization of $52.56 billion, a PE ratio of 14.74, a P/E/G ratio of 1.11 and a beta of 1.05.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. The firm had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. On average, analysts forecast that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors 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 4.06%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, March 5th. Manulife Financial’s dividend payout ratio (DPR) is currently 58.45%.

Analyst Ratings Changes

Several analysts have recently weighed in on MFC shares. 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 objective on 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 given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $45.50.

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.