Gold Investment Management Ltd. Has $5.97 Million Stock Holdings in Manulife Financial Corp (NYSE:MFC)

Gold Investment Management Ltd. boosted its holdings in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 191,492 shares of the financial services provider's stock after purchasing an additional 8,275 shares during the quarter. Manulife Financial comprises about 2.5% of Gold Investment Management Ltd.'s investment portfolio, making the stock its 5th largest position. Gold Investment Management Ltd.'s holdings in Manulife Financial were worth $5,969,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Separately, Morgan Stanley set a $46.00 price objective on shares of Manulife Financial in a research report on Monday, May 19th.

Manulife Financial Stock Performance

Manulife Financial stock traded up $0.02 during mid-day trading on Tuesday, hitting $31.98. The company's stock had a trading volume of 1,234,217 shares, compared to its average volume of 2,166,425. Manulife Financial Corp has a one year low of $23.30 and a one year high of $33.07. The stock has a market cap of $54.62 billion, a PE ratio of 16.74, a P/E/G ratio of 1.09 and a beta of 1.01. The company has a 50 day moving average of $31.36 and a 200-day moving average of $30.48.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly 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 company had revenue of $1.49 billion for the quarter. During the same period in the previous year, the company earned $0.94 earnings per share. On average, equities research analysts forecast that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Wednesday, May 21st were issued a dividend of $0.3194 per share. This represents a $1.28 annualized dividend and a yield of 3.99%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Wednesday, May 21st. Manulife Financial's dividend payout ratio (DPR) is presently 67.02%.

Manulife Financial Company 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.