Teachers Retirement System of The State of Kentucky Invests $13.32 Million in Manulife Financial Co. (NYSE:MFC)

Teachers Retirement System of The State of Kentucky bought a new stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 450,700 shares of the financial services provider's stock, valued at approximately $13,318,000.

A number of other hedge funds have also made changes to their positions in the company. Baron Wealth Management LLC grew its position in shares of Manulife Financial by 2.3% in the third quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider's stock valued at $426,000 after purchasing an additional 330 shares in the last quarter. Americana Partners LLC grew its position in shares of Manulife Financial by 0.5% in the third quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider's stock valued at $2,068,000 after purchasing an additional 364 shares in the last quarter. Addison Advisors LLC grew its position in shares of Manulife Financial by 77.2% in the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 467 shares in the last quarter. LRI Investments LLC grew its position in shares of Manulife Financial by 8.6% in the second quarter. LRI Investments LLC now owns 6,819 shares of the financial services provider's stock valued at $182,000 after purchasing an additional 542 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its position in shares of Manulife Financial by 1.3% in the third quarter. Arkadios Wealth Advisors now owns 41,841 shares of the financial services provider's stock valued at $1,236,000 after purchasing an additional 547 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company's stock.

Analyst Upgrades and Downgrades

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

Manulife Financial Trading Down 2.2 %

Manulife Financial stock traded down $0.68 during mid-day trading on Thursday, hitting $30.82. The company's stock had a trading volume of 3,628,475 shares, compared to its average volume of 2,524,385. The firm has a market capitalization of $53.99 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.19 and a beta of 1.09. Manulife Financial Co. has a 1 year low of $20.67 and a 1 year high of $33.07. The stock's fifty day moving average is $31.15 and its two-hundred day moving average is $28.24.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.30. The company had revenue of $10.69 billion during 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 period in the prior year, the business posted $0.69 earnings per share. On average, equities analysts expect that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be given a $0.296 dividend. This represents a $1.18 annualized dividend and a yield of 3.84%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial's dividend payout ratio is presently 57.00%.

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.