Manulife Financial Co. (NYSE:MFC) (TSE:MFC) has received a consensus rating of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $29.50.
A number of brokerages recently issued reports on MFC. Scotiabank boosted their price objective on Manulife Financial from C$28.00 to C$30.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 16th. Zacks Investment Research upgraded Manulife Financial from a “sell” rating to a “hold” rating and set a $21.00 price objective on the stock in a research note on Tuesday, August 10th. TD Securities boosted their price objective on Manulife Financial from C$36.00 to C$37.00 and gave the company a “buy” rating in a research note on Tuesday, November 16th. Royal Bank of Canada boosted their price objective on Manulife Financial from $28.00 to $29.00 and gave the company a “sector perform” rating in a research note on Friday, August 6th. Finally, Credit Suisse Group boosted their price objective on Manulife Financial from C$26.00 to C$28.00 and gave the company a “neutral” rating in a research note on Tuesday, November 16th.
Shares of NYSE MFC traded up $0.06 during mid-day trading on Thursday, reaching $19.57. 9,612,221 shares of the company’s stock were exchanged, compared to its average volume of 3,443,458. The firm has a market capitalization of $38.01 billion, a price-to-earnings ratio of 7.22, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35. Manulife Financial has a 52 week low of $16.84 and a 52 week high of $22.25. The firm has a 50-day moving average price of $19.72 and a two-hundred day moving average price of $19.84.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 20th. Stockholders of record on Wednesday, December 1st will be issued a dividend of $0.226 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.22. The ex-dividend date is Tuesday, November 30th. This represents a $0.90 annualized dividend and a dividend yield of 4.62%. Manulife Financial’s payout ratio is presently 33.21%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Reilly Financial Advisors LLC grew its holdings in shares of Manulife Financial by 1,841.7% during the second quarter. Reilly Financial Advisors LLC now owns 1,398 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 1,326 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Manulife Financial in the second quarter worth approximately $29,000. PSI Advisors LLC purchased a new stake in Manulife Financial in the third quarter worth approximately $29,000. Carolinas Wealth Consulting LLC boosted its stake in Manulife Financial by 126.8% in the second quarter. Carolinas Wealth Consulting LLC now owns 1,735 shares of the financial services provider’s stock worth $34,000 after buying an additional 970 shares in the last quarter. Finally, Atlas Private Wealth Advisors boosted its stake in Manulife Financial by 61.0% in the second quarter. Atlas Private Wealth Advisors now owns 1,769 shares of the financial services provider’s stock worth $35,000 after buying an additional 670 shares in the last quarter. 46.76% of the stock is owned by institutional investors.
Manulife Financial Company Profile
Manulife Financial Corp. engages in the provision of financial services. It operates through the following segments: Asia, Canada, U.S., Global Wealth and Asset Management, and Corporate and Other. The Asia segment refers to insurance and insurance-based wealth accumulation products in Asia. The Canada segment offers insurance-based wealth accumulation products and banking services in Canada.
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