Rossby Financial LCC Invests $243,000 in Manulife Financial Corp (NYSE:MFC)

Rossby Financial LCC acquired a new position in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,034 shares of the financial services provider's stock, valued at approximately $243,000.

Other large investors have also made changes to their positions in the company. K.J. Harrison & Partners Inc raised its stake in shares of Manulife Financial by 62.2% in the 1st quarter. K.J. Harrison & Partners Inc now owns 78,059 shares of the financial services provider's stock valued at $2,435,000 after acquiring an additional 29,929 shares during the period. Little House Capital LLC grew its holdings in Manulife Financial by 5.1% during the 1st quarter. Little House Capital LLC now owns 35,488 shares of the financial services provider's stock worth $1,105,000 after acquiring an additional 1,721 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Manulife Financial by 4.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 437,523 shares of the financial services provider's stock valued at $13,896,000 after buying an additional 16,873 shares during the last quarter. Gold Investment Management Ltd. raised its position in shares of Manulife Financial by 4.5% during the 1st quarter. Gold Investment Management Ltd. now owns 191,492 shares of the financial services provider's stock valued at $5,969,000 after acquiring an additional 8,275 shares in the last quarter. Finally, Achmea Investment Management B.V. boosted its holdings in shares of Manulife Financial by 4.4% in the 1st quarter. Achmea Investment Management B.V. now owns 889,777 shares of the financial services provider's stock valued at $27,721,000 after buying an additional 37,226 shares during the period. Institutional investors and hedge funds own 52.56% of the company's stock.

Manulife Financial Price Performance

MFC traded up $0.17 during trading on Thursday, reaching $31.62. 936,889 shares of the stock traded hands, compared to its average volume of 2,168,203. Manulife Financial Corp has a fifty-two week low of $23.30 and a fifty-two week high of $33.07. The stock's 50-day simple moving average is $31.44 and its two-hundred day simple moving average is $30.49. The stock has a market cap of $54.01 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.01). The company had revenue of $1.49 billion during the quarter. Manulife Financial had a net margin of 9.58% and a return on equity of 15.84%. During the same quarter last year, the firm earned $0.94 earnings per share. Research analysts anticipate that Manulife Financial Corp will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Wednesday, May 21st were issued a dividend of $0.3194 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.04%. 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 shares of Manulife Financial in a research note 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.