236,842 Shares in Manulife Financial Co. (NYSE:MFC) Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 236,842 shares of the financial services provider's stock, valued at approximately $7,007,000.

Several other institutional investors also recently bought and sold shares of MFC. Grove Bank & Trust acquired a new stake in shares of Manulife Financial in the second quarter valued at about $25,000. West Financial Advisors LLC acquired a new stake in Manulife Financial in the 3rd quarter valued at about $26,000. Brooklyn Investment Group purchased a new position in Manulife Financial in the 3rd quarter worth approximately $26,000. Addison Advisors LLC boosted its holdings in shares of Manulife Financial by 77.2% during the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock worth $29,000 after purchasing an additional 467 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew its position in shares of Manulife Financial by 119.0% in the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 600 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Price Performance

Shares of MFC stock traded up $0.11 during trading on Friday, hitting $30.93. 5,946,048 shares of the stock traded hands, compared to its average volume of 2,538,545. Manulife Financial Co. has a 52-week low of $20.78 and a 52-week high of $33.07. The firm has a market capitalization of $54.19 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09. The firm's fifty day moving average price is $31.19 and its 200-day moving average price is $28.29.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.70 by $0.30. The business had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same quarter in the prior year, the company posted $0.69 EPS. As a group, equities research analysts expect that Manulife Financial Co. will post 2.72 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.296 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This is a boost from Manulife Financial's previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.83%. Manulife Financial's dividend payout ratio (DPR) is currently 57.00%.

Analyst Upgrades and Downgrades

Separately, Barclays initiated coverage on Manulife Financial in a research report on Thursday, September 5th. They set an "equal weight" rating on the stock. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Manulife Financial has an average rating of "Buy" and a consensus target price of $37.50.

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.