Public Employees Retirement System of Ohio bought a new position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 45,901 shares of the financial services provider’s stock, valued at approximately $651,000.

Other hedge funds also recently added to or reduced their stakes in the company. Mackey Komara & Dankovich LLC purchased a new stake in Manulife Financial in the 4th quarter worth approximately $25,000. Acima Private Wealth LLC purchased a new stake in Manulife Financial in the 4th quarter worth approximately $25,000. Enlightenment Research LLC purchased a new stake in Manulife Financial in the 4th quarter worth approximately $30,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in Manulife Financial in the 4th quarter worth approximately $30,000. Finally, CWM LLC lifted its position in Manulife Financial by 69.4% in the 4th quarter. CWM LLC now owns 2,300 shares of the financial services provider’s stock worth $33,000 after buying an additional 942 shares in the last quarter. Institutional investors own 48.42% of the company’s stock.

NYSE:MFC opened at $18.14 on Monday. Manulife Financial Co. has a 1 year low of $13.33 and a 1 year high of $19.63. The firm has a market capitalization of $37.79 billion, a P/E ratio of 8.60, a PEG ratio of 0.82 and a beta of 1.37.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, February 13th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.15. Manulife Financial had a net margin of 12.34% and a return on equity of 13.51%. The business had revenue of $6.44 billion for the quarter. During the same quarter in the previous year, the business posted $0.59 earnings per share. Equities analysts anticipate that Manulife Financial Co. will post 2.19 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, February 27th were paid a $0.1883 dividend. The ex-dividend date of this dividend was Tuesday, February 26th. This represents a $0.75 dividend on an annualized basis and a yield of 4.15%. Manulife Financial’s payout ratio is presently 36.02%.

A number of equities research analysts have issued reports on MFC shares. ValuEngine upgraded shares of Manulife Financial from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Barclays restated a “buy” rating on shares of Manulife Financial in a research note on Thursday, January 10th. Finally, Zacks Investment Research upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $24.33.

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About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.

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Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

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