Manulife Financial Co. (NYSE:MFC) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) have been assigned a consensus recommendation of “Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $45.50.

MFC has been the topic of a number of recent research reports. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd. Royal Bank of Canada boosted their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 21st.

Manulife Financial Trading Up 2.3 %

NYSE:MFC opened at $30.14 on Tuesday. The company has a market cap of $51.91 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.11 and a beta of 1.05. Manulife Financial has a twelve month low of $22.61 and a twelve month high of $33.07. The company’s 50-day moving average price is $30.06 and its 200-day moving average price is $30.23.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. The business had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. On average, analysts expect that Manulife Financial will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.3094 dividend. This represents a $1.24 annualized dividend and a yield of 4.11%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, March 5th. Manulife Financial’s dividend payout ratio is presently 58.45%.

Hedge Funds Weigh In On Manulife Financial

A number of hedge funds have recently modified their holdings of MFC. Prime Capital Investment Advisors LLC acquired a new position in Manulife Financial in the third quarter valued at about $203,000. Oppenheimer & Co. Inc. raised its stake in shares of Manulife Financial by 4.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,661 shares of the financial services provider’s stock valued at $1,674,000 after acquiring an additional 2,612 shares during the period. OneDigital Investment Advisors LLC raised its stake in shares of Manulife Financial by 8.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 10,715 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 815 shares during the period. Baron Wealth Management LLC boosted its position in shares of Manulife Financial by 2.3% during the 3rd quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider’s stock worth $426,000 after purchasing an additional 330 shares during the period. Finally, West Family Investments Inc. increased its holdings in Manulife Financial by 8.2% in the 3rd quarter. West Family Investments Inc. now owns 17,593 shares of the financial services provider’s stock valued at $520,000 after purchasing an additional 1,340 shares during the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.