Aurora Private Wealth Inc. Purchases New Stake in Manulife Financial Corp (NYSE:MFC)

Aurora Private Wealth Inc. bought a new position in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,061 shares of the financial services provider's stock, valued at approximately $625,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lee Danner & Bass Inc. acquired a new stake in Manulife Financial during the fourth quarter worth about $31,000. Lazard Asset Management LLC acquired a new stake in Manulife Financial during the 4th quarter worth approximately $35,000. Transce3nd LLC purchased a new position in Manulife Financial in the fourth quarter valued at approximately $42,000. Addison Advisors LLC lifted its position in Manulife Financial by 45.9% during the fourth quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider's stock valued at $44,000 after buying an additional 449 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in Manulife Financial during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Manulife Financial Price Performance

Manulife Financial stock traded up $0.27 during midday trading on Friday, hitting $32.35. 281,111 shares of the company were exchanged, compared to its average volume of 2,145,341. The company has a market cap of $55.26 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 1.07 and a beta of 1.01. Manulife Financial Corp has a fifty-two week low of $23.30 and a fifty-two week high of $33.07. The company's fifty day moving average price is $31.22 and its 200-day moving average price is $30.48.

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

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Wednesday, May 21st were issued a $0.3194 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $1.28 dividend on an annualized basis and a yield of 3.95%. This is an increase from Manulife Financial's previous quarterly dividend of $0.31. Manulife Financial's dividend payout ratio is currently 67.02%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley set a $46.00 target price on shares of Manulife Financial in a research note on Monday, May 19th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Manulife Financial presently has an average rating of "Buy" and a consensus target price of $45.67.

About Manulife Financial

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.