Virginia Retirement Systems ET AL Acquires 107,700 Shares of Manulife Financial Corp (MFC)

Virginia Retirement Systems ET AL increased its position in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 101.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 214,000 shares of the financial services provider’s stock after buying an additional 107,700 shares during the period. Virginia Retirement Systems ET AL’s holdings in Manulife Financial were worth $4,331,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Legal & General Group Plc boosted its holdings in shares of Manulife Financial by 0.3% during the 3rd quarter. Legal & General Group Plc now owns 9,036,629 shares of the financial services provider’s stock worth $182,882,000 after buying an additional 31,309 shares during the period. Wade G W & Inc. boosted its holdings in shares of Manulife Financial by 0.6% during the 3rd quarter. Wade G W & Inc. now owns 585,012 shares of the financial services provider’s stock worth $11,870,000 after buying an additional 3,278 shares during the period. Great West Life Assurance Co. Can boosted its holdings in shares of Manulife Financial by 7.5% during the 3rd quarter. Great West Life Assurance Co. Can now owns 21,013,888 shares of the financial services provider’s stock worth $425,407,000 after buying an additional 1,463,511 shares during the period. TD Asset Management Inc. boosted its holdings in shares of Manulife Financial by 1.6% during the 3rd quarter. TD Asset Management Inc. now owns 59,703,080 shares of the financial services provider’s stock worth $1,208,240,000 after buying an additional 927,841 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Manulife Financial by 0.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,919,203 shares of the financial services provider’s stock valued at $59,077,000 after purchasing an additional 22,847 shares during the period. 46.55% of the stock is owned by institutional investors and hedge funds.

Shares of Manulife Financial Corp (NYSE:MFC) traded up $0.23 during trading on Friday, reaching $21.27. 3,155,474 shares of the company’s stock were exchanged, compared to its average volume of 2,378,714. Manulife Financial Corp has a 12-month low of $16.62 and a 12-month high of $21.69. The company has a market cap of $42,060.00, a P/E ratio of 12.20, a PEG ratio of 1.27 and a beta of 1.31.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 21st will be issued a $0.1606 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Monday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is presently 45.39%.

A number of analysts have weighed in on MFC shares. ValuEngine downgraded shares of Manulife Financial from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. Zacks Investment Research raised shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, October 10th. Finally, Morgan Stanley increased their price target on shares of Manulife Financial from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $25.00.

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About Manulife Financial

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

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

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