Manulife Financial Co. (NYSE:MFC) (TSE:MFC) – Stock analysts at Desjardins raised their FY2017 earnings per share estimates for Manulife Financial in a report released on Wednesday. Desjardins analyst D. Young now forecasts that the financial services provider will earn $1.79 per share for the year, up from their previous estimate of $1.77. Desjardins also issued estimates for Manulife Financial’s Q4 2017 earnings at $0.44 EPS, FY2018 earnings at $2.01 EPS and FY2019 earnings at $2.17 EPS.
Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Tuesday, January 2nd. Morgan Stanley upped their target price on shares of Manulife Financial from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Finally, ValuEngine cut shares of Manulife Financial from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 18th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $25.00.
Manulife Financial (MFC) opened at $21.81 on Thursday. The stock has a market cap of $43,210.00, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.12 and a beta of 1.33. Manulife Financial has a one year low of $16.62 and a one year high of $21.82.
Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. lifted its stake in Manulife Financial by 15.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 84,067 shares of the financial services provider’s stock valued at $1,576,000 after acquiring an additional 11,353 shares during the period. Barometer Capital Management Inc. purchased a new stake in shares of Manulife Financial during the 3rd quarter valued at about $11,093,000. BB&T Corp increased its position in shares of Manulife Financial by 36.6% during the 3rd quarter. BB&T Corp now owns 54,202 shares of the financial services provider’s stock valued at $1,100,000 after purchasing an additional 14,525 shares during the last quarter. Bridgewater Associates LP purchased a new stake in shares of Manulife Financial during the 2nd quarter valued at about $7,131,000. Finally, Becker Capital Management Inc. purchased a new stake in shares of Manulife Financial during the 3rd quarter valued at about $256,000. Institutional investors and hedge funds own 46.51% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 21st were paid a dividend of $0.1606 per share. This represents a $0.64 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Monday, November 20th. Manulife Financial’s dividend payout ratio is currently 43.84%.
About Manulife Financial
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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