Manulife Financial Corp (NYSE:MFC) Shares Bought by Gold Investment Management Ltd.

Gold Investment Management Ltd. increased its position 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 buying an additional 8,275 shares during the quarter. Manulife Financial accounts for 2.5% of Gold Investment Management Ltd.'s portfolio, making the stock its 5th biggest holding. Gold Investment Management Ltd.'s holdings in Manulife Financial were worth $5,969,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MFC. Brighton Jones LLC grew its position in Manulife Financial by 33.9% during the fourth quarter. Brighton Jones LLC now owns 9,393 shares of the financial services provider's stock worth $288,000 after buying an additional 2,376 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Manulife Financial by 11.6% during the fourth quarter. Principal Financial Group Inc. now owns 73,100 shares of the financial services provider's stock worth $2,245,000 after purchasing an additional 7,600 shares during the period. Bank of New York Mellon Corp lifted its stake in Manulife Financial by 4.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,809,774 shares of the financial services provider's stock worth $55,578,000 after purchasing an additional 81,799 shares during the period. Mn Services Vermogensbeheer B.V. lifted its stake in Manulife Financial by 1.9% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 713,637 shares of the financial services provider's stock worth $21,912,000 after purchasing an additional 13,200 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in Manulife Financial by 1.2% during the fourth quarter. Oppenheimer & Co. Inc. now owns 57,316 shares of the financial services provider's stock worth $1,760,000 after purchasing an additional 655 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Manulife Financial Stock Down 0.4%

MFC traded down $0.12 during midday trading on Friday, reaching $31.97. 5,798,368 shares of the company's stock were exchanged, compared to its average volume of 2,165,340. The firm has a market capitalization of $54.60 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 1.09 and a beta of 1.01. Manulife Financial Corp has a one year low of $23.30 and a one year high of $33.07. The business has a 50-day simple moving average of $31.28 and a two-hundred day simple moving average of $30.47.

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). Manulife Financial had a net margin of 9.58% and a return on equity of 15.84%. The firm had revenue of $1.49 billion during the quarter. During the same period in the prior year, the business earned $0.94 EPS. As a group, research analysts anticipate that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company 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. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.00%. This is a boost from Manulife Financial's previous quarterly dividend of $0.31. Manulife Financial's payout ratio is 67.02%.

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.