K.J. Harrison & Partners Inc Purchases 29,929 Shares of Manulife Financial Corp (NYSE:MFC)

K.J. Harrison & Partners Inc raised its position in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 62.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 78,059 shares of the financial services provider’s stock after acquiring an additional 29,929 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Manulife Financial were worth $2,435,000 as of its most recent filing with the Securities and Exchange Commission.

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

Manulife Financial Price Performance

Manulife Financial stock opened at $31.97 on Friday. Manulife Financial Corp has a one year low of $23.30 and a one year high of $33.07. The business has a fifty day moving average price of $31.28 and a 200-day moving average price of $30.47. The firm has a market capitalization of $54.60 billion, a P/E ratio of 16.74, a PEG ratio of 1.09 and a beta of 1.01.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). Manulife Financial had a return on equity of 15.84% and a net margin of 9.58%. The company had revenue of $1.49 billion during the quarter. During the same period in the prior year, the firm earned $0.94 earnings per share. Sell-side analysts expect that Manulife Financial Corp will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business 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. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Wednesday, May 21st. Manulife Financial’s dividend payout ratio (DPR) is presently 67.02%.

Analyst Ratings Changes

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.