Manulife Financial Co. (NYSE:MFC) (TSE:MFC) has been assigned an average rating of “Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $25.67.
A number of research analysts have recently weighed in on the company. ValuEngine lowered Manulife Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. Zacks Investment Research lowered Manulife Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Evercore ISI assumed coverage on Manulife Financial in a report on Tuesday, July 10th. They issued an “in-line” rating on the stock. Finally, Morgan Stanley cut their price objective on Manulife Financial from $27.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 11th.
Manulife Financial stock traded up $0.13 during midday trading on Monday, reaching $15.73. The company’s stock had a trading volume of 3,827,848 shares, compared to its average volume of 2,429,711. Manulife Financial has a 52-week low of $15.55 and a 52-week high of $22.16. The stock has a market cap of $35.48 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 0.88 and a beta of 1.29.
Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. Manulife Financial had a return on equity of 12.69% and a net margin of 4.22%. The company had revenue of $10.59 billion during the quarter. During the same quarter last year, the business posted $0.57 earnings per share. Equities research analysts predict that Manulife Financial will post 2.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 19th. Stockholders of record on Tuesday, August 21st were issued a $0.169 dividend. The ex-dividend date of this dividend was Monday, August 20th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.13. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.30%. Manulife Financial’s dividend payout ratio is currently 39.77%.
Several hedge funds have recently made changes to their positions in the company. Cerebellum GP LLC acquired a new stake in Manulife Financial during the third quarter worth about $149,000. MUFG Americas Holdings Corp grew its holdings in Manulife Financial by 61.0% during the second quarter. MUFG Americas Holdings Corp now owns 8,343 shares of the financial services provider’s stock worth $150,000 after acquiring an additional 3,160 shares during the period. RMB Capital Management LLC acquired a new stake in Manulife Financial during the first quarter worth about $187,000. ProVise Management Group LLC acquired a new stake in Manulife Financial during the second quarter worth about $191,000. Finally, We Are One Seven LLC acquired a new stake in Manulife Financial during the third quarter worth about $227,000. 46.12% of the stock is currently owned by institutional investors and hedge funds.
About Manulife Financial
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance through insurance agents, brokers, banks, financial planners, and direct marketing.
See Also: Treasury Bonds
Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.