Apollon Wealth Management LLC Has $581,000 Stake in Manulife Financial Corp (NYSE:MFC)

Apollon Wealth Management LLC boosted its holdings in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 91.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,657 shares of the financial services provider's stock after acquiring an additional 8,925 shares during the period. Apollon Wealth Management LLC's holdings in Manulife Financial were worth $581,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Lee Danner & Bass Inc. purchased a new stake in Manulife Financial in the fourth quarter valued at approximately $31,000. Lazard Asset Management LLC purchased a new stake in shares of Manulife Financial during the fourth quarter worth $35,000. Transce3nd LLC purchased a new stake in shares of Manulife Financial during the fourth quarter worth $42,000. Millstone Evans Group LLC purchased a new stake in shares of Manulife Financial during the fourth quarter worth $44,000. Finally, Graney & King LLC purchased a new stake in shares of Manulife Financial during the fourth quarter worth $53,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Trading Up 1.0%

Manulife Financial stock traded up $0.31 during midday trading on Tuesday, hitting $30.82. The stock had a trading volume of 1,297,650 shares, compared to its average volume of 2,179,574. The stock has a market cap of $52.63 billion, a P/E ratio of 16.13, a P/E/G ratio of 1.03 and a beta of 0.99. Manulife Financial Corp has a 12 month low of $23.30 and a 12 month high of $33.07. The business has a fifty day moving average price of $31.41 and a 200 day moving average price of $30.51.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01). The business had revenue of $1.49 billion for the quarter. Manulife Financial had a return on equity of 15.84% and a net margin of 9.58%. During the same period in the previous year, the company posted $0.94 EPS. On average, equities analysts anticipate that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st were issued a $0.3194 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $1.28 annualized dividend and a dividend yield of 4.15%. This is a boost from Manulife Financial's previous quarterly dividend of $0.31. Manulife Financial's dividend payout ratio is currently 67.02%.

Analyst Ratings Changes

Separately, Morgan Stanley set a $46.00 target price on Manulife Financial in a research report on Monday, May 19th.

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.