Manulife Financial Co. (NYSE:MFC) (TSE:MFC) has received an average rating of “Buy” from the ten ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $25.67.
A number of equities analysts recently commented on the stock. TheStreet lowered shares of Manulife Financial from a “b-” rating to a “c+” rating in a research note on Monday, October 15th. Desjardins reaffirmed a “buy” rating on shares of Manulife Financial in a research note on Tuesday, October 16th. Zacks Investment Research raised shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Friday, October 5th. ValuEngine lowered shares of Manulife Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Finally, Morgan Stanley decreased their target price on shares of Manulife Financial from $27.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 11th.
Manulife Financial stock traded down $0.09 during midday trading on Friday, reaching $16.36. The stock had a trading volume of 197,394 shares, compared to its average volume of 3,674,232. Manulife Financial has a twelve month low of $14.99 and a twelve month high of $22.16. The firm has a market capitalization of $33.24 billion, a price-to-earnings ratio of 9.58, a P/E/G ratio of 0.82 and a beta of 1.31.
Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, August 8th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.21. Manulife Financial had a net margin of 4.22% and a return on equity of 12.69%. The firm had revenue of $10.59 billion during the quarter. During the same period in the prior year, the business posted $0.57 EPS. Equities analysts expect that Manulife Financial will post 2.03 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Tuesday, November 20th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, November 19th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.65%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.17. Manulife Financial’s dividend payout ratio (DPR) is 39.77%.
Several large investors have recently modified their holdings of the business. Unigestion Holding SA acquired a new stake in shares of Manulife Financial during the 3rd quarter valued at $247,000. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Manulife Financial by 2.2% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 318,150 shares of the financial services provider’s stock valued at $7,346,000 after buying an additional 6,900 shares during the period. Virginia Retirement Systems ET AL boosted its stake in shares of Manulife Financial by 19.3% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 942,200 shares of the financial services provider’s stock valued at $16,831,000 after buying an additional 152,500 shares during the period. Comerica Bank boosted its stake in shares of Manulife Financial by 7.0% during the 3rd quarter. Comerica Bank now owns 120,830 shares of the financial services provider’s stock valued at $1,939,000 after buying an additional 7,944 shares during the period. Finally, Private Advisor Group LLC boosted its stake in shares of Manulife Financial by 12.8% during the 3rd quarter. Private Advisor Group LLC now owns 28,656 shares of the financial services provider’s stock valued at $512,000 after buying an additional 3,257 shares during the period. 46.21% of the stock is owned by institutional investors.
About Manulife Financial
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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