Manulife Financial Corp (NYSE:MFC – Get Free Report) (TSE:MFC) has been given a consensus recommendation of “Buy” by the eight analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $59.00.
A number of brokerages have commented on MFC. TD Securities restated a “buy” rating on shares of Manulife Financial in a research note on Thursday, August 6th. Zacks Research upgraded Manulife Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 2nd. Weiss Ratings raised Manulife Financial from a “buy (a)” rating to a “buy (a+)” rating in a report on Thursday. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a research report on Friday, August 7th. Finally, Royal Bank Of Canada upped their price objective on Manulife Financial from $55.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th.
View Our Latest Stock Analysis on Manulife Financial
Manulife Financial Stock Performance
Manulife Financial (NYSE:MFC – Get Free Report) (TSE:MFC) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.01. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $7.28 billion. Manulife Financial had a net margin of 9.99% and a return on equity of 16.68%. Manulife Financial’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 earnings per share. Equities analysts forecast that Manulife Financial will post 3.00 earnings per share for the current year.
Manulife Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Friday, August 21st were given a dividend of C$0.48 per share. The ex-dividend date was Friday, August 21st. This represents a $1.94 annualized dividend and a dividend yield of 4.6%. Manulife Financial’s dividend payout ratio is currently 51.49%.
Institutional Trading of Manulife Financial
Several hedge funds have recently bought and sold shares of the company. Bridgewater Advisors Inc. grew its stake in shares of Manulife Financial by 3.3% in the first quarter. Bridgewater Advisors Inc. now owns 8,675 shares of the financial services provider’s stock worth $299,000 after purchasing an additional 274 shares in the last quarter. Baron Wealth Management LLC increased its holdings in shares of Manulife Financial by 2.4% during the second quarter. Baron Wealth Management LLC now owns 12,432 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 291 shares during the period. Midwest Professional Planners LTD. raised its stake in shares of Manulife Financial by 1.1% during the first quarter. Midwest Professional Planners LTD. now owns 27,702 shares of the financial services provider’s stock valued at $954,000 after purchasing an additional 305 shares in the last quarter. Western Wealth Management LLC raised its stake in shares of Manulife Financial by 5.4% during the first quarter. Western Wealth Management LLC now owns 6,192 shares of the financial services provider’s stock valued at $213,000 after purchasing an additional 317 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Manulife Financial by 3.6% in the third quarter. Versant Capital Management Inc now owns 10,308 shares of the financial services provider’s stock worth $439,000 after purchasing an additional 356 shares during the period. 52.56% of the stock is currently owned by institutional investors.
Manulife Financial Company Profile
Manulife Financial Corporation is a Canadian financial services company that provides insurance, wealth and asset management, retirement solutions and employee benefits. Its offerings include life and health insurance, annuities, group benefits, mutual funds, pension products and investment management services for individuals, businesses and institutional clients.
Founded in 1887 as The Manufacturers Life Insurance Company, Manulife has grown into an international organization serving customers primarily in Canada, the United States and Asia.
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