K.J. Harrison & Partners Inc Purchases 29,929 Shares of Manulife Financial Corp (NYSE:MFC)

K.J. Harrison & Partners Inc boosted its position in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 62.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 78,059 shares of the financial services provider's stock after acquiring an additional 29,929 shares during the period. K.J. Harrison & Partners Inc's holdings in Manulife Financial were worth $2,435,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lee Danner & Bass Inc. bought a new position in Manulife Financial in the fourth quarter worth approximately $31,000. Lazard Asset Management LLC bought a new position in Manulife Financial in the fourth quarter worth approximately $35,000. Transce3nd LLC bought a new position in Manulife Financial in the fourth quarter worth approximately $42,000. Millstone Evans Group LLC bought a new position in Manulife Financial in the fourth quarter worth approximately $44,000. Finally, Graney & King LLC bought a new position in Manulife Financial in the fourth quarter worth approximately $53,000. Institutional investors own 52.56% of the company's stock.

Manulife Financial Stock Down 0.4%

Shares of Manulife Financial stock opened at $31.97 on Friday. The company has a market cap of $54.60 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 1.09 and a beta of 1.01. Manulife Financial Corp has a 52 week low of $23.30 and a 52 week high of $33.07. The business has a 50 day moving average price of $31.28 and a 200-day moving average price of $30.47.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.69 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.01). The business had revenue of $1.49 billion for the quarter. Manulife Financial had a net margin of 9.58% and a return on equity of 15.84%. During the same period last year, the firm earned $0.94 earnings per share. As a group, research analysts anticipate that Manulife Financial Corp will post 2.87 EPS for the current 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 given a dividend of $0.3194 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.00%. This is an increase from Manulife Financial's previous quarterly dividend of $0.31. The ex-dividend date was Wednesday, May 21st. Manulife Financial's dividend payout ratio (DPR) is presently 67.02%.

Wall Street Analyst Weigh In

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

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.

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