Cerity Partners LLC Has $5.38 Million Stock Holdings in Manulife Financial Corp (NYSE:MFC)

Cerity Partners LLC boosted its stake in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 47.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 172,708 shares of the financial services provider's stock after purchasing an additional 55,881 shares during the period. Cerity Partners LLC's holdings in Manulife Financial were worth $5,380,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Lee Danner & Bass Inc. purchased a new stake in shares of Manulife Financial in the fourth quarter worth about $31,000. Lazard Asset Management LLC bought a new position in shares of Manulife Financial during the fourth quarter valued at approximately $35,000. Transce3nd LLC bought a new position in shares of Manulife Financial during the fourth quarter valued at 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. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Trading Down 0.2%

Shares of MFC traded down $0.06 during mid-day trading on Friday, hitting $30.85. 2,156,311 shares of the company's stock were exchanged, compared to its average volume of 2,180,182. Manulife Financial Corp has a fifty-two week low of $23.30 and a fifty-two week high of $33.07. The firm has a market capitalization of $52.69 billion, a P/E ratio of 16.15, a P/E/G ratio of 1.04 and a beta of 0.99. The business's 50 day moving average is $31.41 and its two-hundred day moving average is $30.51.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued 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). Manulife Financial had a net margin of 9.58% and a return on equity of 15.84%. The company had revenue of $1.49 billion during the quarter. During the same period in the previous year, the business posted $0.94 earnings per share. On average, equities research analysts forecast that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Wednesday, May 21st were issued a $0.3194 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This is a positive change from Manulife Financial's previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 4.14%. Manulife Financial's payout ratio is 67.02%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley set a $46.00 price objective on Manulife Financial in a 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.