Manulife Financial (NYSE:MFC – Get Free Report) (TSE:MFC) released its quarterly earnings results on Wednesday. The financial services provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02), Zacks reports. Manulife Financial had a return on equity of 16.70% and a net margin of 10.19%.The company had revenue of $8.89 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the prior year, the firm earned $0.99 EPS.
Manulife Financial Stock Down 5.8%
Shares of MFC opened at $37.54 on Friday. The stock has a market capitalization of $62.78 billion, a P/E ratio of 14.90 and a beta of 0.87. The firm has a fifty day simple moving average of $36.40 and a two-hundred day simple moving average of $36.01. Manulife Financial has a twelve month low of $29.70 and a twelve month high of $40.40.
Manulife Financial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, May 29th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.94 annualized dividend and a yield of 5.2%. Manulife Financial’s dividend payout ratio is presently 63.96%.
Analyst Upgrades and Downgrades
View Our Latest Stock Report on MFC
Institutional Investors Weigh In On Manulife Financial
Several institutional investors have recently added to or reduced their stakes in MFC. Brighton Jones LLC boosted its position in Manulife Financial by 33.9% during the 4th quarter. Brighton Jones LLC now owns 9,393 shares of the financial services provider’s stock valued at $288,000 after buying an additional 2,376 shares during the period. AQR Capital Management LLC boosted its position in Manulife Financial by 179.7% during the 1st quarter. AQR Capital Management LLC now owns 28,362 shares of the financial services provider’s stock valued at $872,000 after buying an additional 18,222 shares during the period. Empowered Funds LLC boosted its position in Manulife Financial by 18.7% during the 1st quarter. Empowered Funds LLC now owns 56,418 shares of the financial services provider’s stock valued at $1,757,000 after buying an additional 8,900 shares during the period. Sivia Capital Partners LLC boosted its position in Manulife Financial by 13.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,843 shares of the financial services provider’s stock valued at $251,000 after buying an additional 909 shares during the period. Finally, MUFG Securities EMEA plc boosted its position in Manulife Financial by 814.3% during the 2nd quarter. MUFG Securities EMEA plc now owns 6,399,999 shares of the financial services provider’s stock valued at $204,544,000 after buying an additional 5,699,999 shares during the period. Hedge funds and other institutional investors own 52.56% of the company’s stock.
About Manulife Financial
Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.
In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.
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