Manulife Financial Corp (NYSE:MFC) Receives Consensus Rating of “Buy” from Brokerages

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) has been given a consensus rating of “Buy” by the seven brokerages that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $51.50.

Several analysts have recently weighed in on MFC shares. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a research report on Wednesday, April 29th. Weiss Ratings upgraded shares of Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, May 28th. Finally, TD Securities reissued a “buy” rating on shares of Manulife Financial in a research note on Thursday, May 14th.

Hedge Funds Weigh In On Manulife Financial

A number of large investors have recently modified their holdings of MFC. Hoge Financial Services LLC lifted its position in Manulife Financial by 0.9% in the 4th quarter. Hoge Financial Services LLC now owns 31,975 shares of the financial services provider’s stock worth $1,160,000 after buying an additional 272 shares during the last quarter. Bridgewater Advisors Inc. grew its position in Manulife Financial by 3.3% during the first quarter. Bridgewater Advisors Inc. now owns 8,675 shares of the financial services provider’s stock valued at $299,000 after acquiring an additional 274 shares during the last quarter. Kathmere Capital Management LLC grew its position in Manulife Financial by 2.0% during the fourth quarter. Kathmere Capital Management LLC now owns 14,421 shares of the financial services provider’s stock valued at $523,000 after acquiring an additional 277 shares during the last quarter. Americana Partners LLC raised its stake in shares of Manulife Financial by 0.5% during the fourth quarter. Americana Partners LLC now owns 59,081 shares of the financial services provider’s stock worth $2,143,000 after acquiring an additional 295 shares in the last quarter. Finally, 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 worth $954,000 after acquiring an additional 305 shares in the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Trading Up 0.6%

Shares of MFC opened at $40.73 on Thursday. The company has a market cap of $67.85 billion, a PE ratio of 16.16 and a beta of 0.84. The stock has a 50-day moving average price of $39.24 and a 200-day moving average price of $37.26. Manulife Financial has a 12-month low of $29.70 and a 12-month high of $41.43.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, May 13th. The financial services provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.02). The business had revenue of $8.89 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Manulife Financial had a return on equity of 16.58% and a net margin of 10.19%.During the same period in the previous year, the firm posted $0.99 EPS. As a group, analysts predict that Manulife Financial will post 3.2 earnings per share for the current year.

Manulife Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, May 29th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Friday, May 29th. Manulife Financial’s dividend payout ratio is presently 56.75%.

About Manulife Financial

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.