Shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) have earned a consensus recommendation of “Buy” from the eleven research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $24.33.
A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Monday, November 19th. Scotiabank reiterated an “average” rating and issued a $28.00 target price on shares of Manulife Financial in a report on Tuesday, November 13th. Canaccord Genuity reiterated a “buy” rating on shares of Manulife Financial in a report on Friday, November 9th. ValuEngine upgraded shares of Manulife Financial from a “strong sell” rating to a “sell” rating in a report on Thursday, November 8th. Finally, TD Securities reiterated a “buy” rating on shares of Manulife Financial in a report on Thursday, November 8th.
Several hedge funds have recently added to or reduced their stakes in MFC. Creative Planning raised its holdings in shares of Manulife Financial by 19.3% during the second quarter. Creative Planning now owns 50,344 shares of the financial services provider’s stock valued at $905,000 after acquiring an additional 8,154 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Manulife Financial by 21.8% during the second quarter. Janney Montgomery Scott LLC now owns 26,234 shares of the financial services provider’s stock valued at $471,000 after acquiring an additional 4,695 shares during the period. BB&T Corp raised its holdings in shares of Manulife Financial by 20.4% during the second quarter. BB&T Corp now owns 72,947 shares of the financial services provider’s stock valued at $1,310,000 after acquiring an additional 12,379 shares during the period. Atlas Capital Advisors LLC acquired a new stake in shares of Manulife Financial during the second quarter valued at approximately $370,000. Finally, Aperio Group LLC raised its holdings in shares of Manulife Financial by 10.2% during the second quarter. Aperio Group LLC now owns 505,695 shares of the financial services provider’s stock valued at $9,087,000 after acquiring an additional 46,938 shares during the period. Institutional investors and hedge funds own 46.02% of the company’s stock.
NYSE MFC opened at $16.60 on Tuesday. Manulife Financial has a 12 month low of $14.99 and a 12 month high of $22.16. The company has a market capitalization of $32.21 billion, a P/E ratio of 9.71, a price-to-earnings-growth ratio of 0.78 and a beta of 1.31.
Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, November 7th. The financial services provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.25. Manulife Financial had a net margin of 5.49% and a return on equity of 13.70%. The business had revenue of $6.15 billion for the quarter. During the same quarter in the previous year, the firm earned $0.53 earnings per share. On average, analysts predict that Manulife Financial will post 2.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Tuesday, November 20th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.58%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.17. Manulife Financial’s payout ratio is currently 44.44%.
Manulife Financial Company Profile
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.
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