10,476 Shares in Manulife Financial Corp $MFC Purchased by Ewing Morris & Co. Investment Partners Ltd.

Key Points

• Ewing Morris & Co. Investment Partners Ltd. has acquired a new stake in Manulife Financial Corp, purchasing 10,476 shares valued at approximately $326,000 in the first quarter.
• The latest quarterly report revealed that Manulife Financial missed earnings expectations, reporting $0.69 earnings per share, below the consensus estimate of $0.71.
• Manulife Financial has increased its quarterly dividend to $0.3199 per share, representing an annualized amount of $1.28 and a yield of 4.2%.

Ewing Morris & Co. Investment Partners Ltd. bought a new position in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,476 shares of the financial services provider's stock, valued at approximately $326,000.

A number of other hedge funds also recently bought and sold shares of the stock. Lazard Asset Management LLC acquired a new position in shares of Manulife Financial in the 4th quarter valued at $35,000. William B. Walkup & Associates Inc. purchased a new position in Manulife Financial in the 1st quarter worth approximately $43,000. NBC Securities Inc. lifted its stake in Manulife Financial by 178,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,788 shares of the financial services provider's stock worth $55,000 after purchasing an additional 1,787 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Manulife Financial during the 1st quarter valued at approximately $59,000. Finally, Ancora Advisors LLC raised its position in shares of Manulife Financial by 34.7% during the 4th quarter. Ancora Advisors LLC now owns 1,943 shares of the financial services provider's stock valued at $60,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 52.56% of the company's stock.

Manulife Financial Stock Performance

Shares of Manulife Financial stock traded up $0.44 during trading hours on Thursday, reaching $30.90. 1,334,347 shares of the company were exchanged, compared to its average volume of 2,318,358. Manulife Financial Corp has a 1 year low of $25.92 and a 1 year high of $33.07. The stock's fifty day moving average is $30.78 and its 200 day moving average is $30.60. The firm has a market cap of $52.48 billion, a PE ratio of 13.79, a PEG ratio of 1.03 and a beta of 0.99.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). The company had revenue of $11.30 billion for the quarter. Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%.During the same quarter in the prior year, the company earned $0.91 earnings per share. Research analysts expect that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, August 20th will be paid a $0.3199 dividend. This is a boost from Manulife Financial's previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, August 20th. Manulife Financial's payout ratio is currently 56.70%.

Analyst Ratings Changes

A number of analysts have issued reports on MFC shares. Royal Bank Of Canada cut their target price on Manulife Financial from $51.00 to $49.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Morgan Stanley set a $48.00 target price on Manulife Financial in a research report on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $48.50.

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.