Cerity Partners LLC Boosts Stake in Manulife Financial Corp (NYSE:MFC)

Cerity Partners LLC increased its position in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 47.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 172,708 shares of the financial services provider's stock after purchasing an additional 55,881 shares during the quarter. Cerity Partners LLC's holdings in Manulife Financial were worth $5,380,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lee Danner & Bass Inc. purchased a new position in shares of Manulife Financial during the 4th quarter worth approximately $31,000. Lazard Asset Management LLC purchased a new stake in shares of Manulife Financial during the fourth quarter worth about $35,000. Transce3nd LLC acquired a new position in Manulife Financial in the 4th quarter valued at $42,000. Millstone Evans Group LLC acquired a new position in Manulife Financial in the fourth quarter valued at $44,000. Finally, Graney & King LLC purchased a new position in Manulife Financial during the fourth quarter worth about $53,000. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Stock Performance

Manulife Financial stock traded down $0.06 during midday trading on Friday, reaching $30.85. The stock had a trading volume of 2,156,311 shares, compared to its average volume of 2,177,513. The stock has a market capitalization of $52.69 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 1.03 and a beta of 0.99. The stock's 50-day simple moving average is $31.41 and its 200 day simple moving average is $30.51. Manulife Financial Corp has a twelve month low of $23.30 and a twelve month high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its earnings results on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share (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 return on equity of 15.84% and a net margin of 9.58%. During the same period in the previous year, the business posted $0.94 earnings per share. Equities analysts predict that Manulife Financial Corp will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Wednesday, May 21st were paid a $0.3194 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date was Wednesday, May 21st. This is an increase from Manulife Financial's previous quarterly dividend of $0.31. Manulife Financial's dividend payout ratio (DPR) is currently 67.02%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley set a $46.00 price objective on shares of Manulife Financial in a research note 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.