Canaccord Genuity reiterated their buy rating on shares of Manulife Financial (NYSE:MFC) (TSE:MFC) in a research note published on Thursday, AnalystRatings.com reports. Canaccord Genuity currently has a $35.00 price target on the financial services provider’s stock.
MFC has been the topic of several other reports. Credit Suisse Group initiated coverage on shares of Manulife Financial in a report on Friday, February 7th. They set a neutral rating and a $29.00 price objective on the stock. CIBC reissued a buy rating and set a $29.00 price objective on shares of Manulife Financial in a report on Wednesday, December 11th. ValuEngine lowered shares of Manulife Financial from a sell rating to a strong sell rating in a report on Friday, January 3rd. Zacks Investment Research lowered shares of Manulife Financial from a buy rating to a hold rating and set a $20.00 price objective on the stock. in a report on Friday, November 29th. Finally, Barclays lifted their price objective on shares of Manulife Financial from $27.00 to $32.00 and gave the company an overweight rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $29.00.
MFC stock traded down $0.01 during trading on Thursday, hitting $19.71. 2,017,700 shares of the company’s stock traded hands, compared to its average volume of 1,672,629. The firm has a market capitalization of $38.43 billion, a P/E ratio of 10.71, a PEG ratio of 0.83 and a beta of 1.37. The business has a fifty day simple moving average of $20.39 and a two-hundred day simple moving average of $18.83. Manulife Financial has a 1 year low of $16.06 and a 1 year high of $21.23.
Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.17. The company had revenue of $8.46 billion for the quarter. Manulife Financial had a net margin of 6.45% and a return on equity of 12.86%. During the same period in the previous year, the business earned $0.65 earnings per share. On average, sell-side analysts anticipate that Manulife Financial will post 2.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Tuesday, February 25th will be issued a $0.212 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.19. This represents a $0.85 annualized dividend and a yield of 4.30%. The ex-dividend date is Monday, February 24th. Manulife Financial’s payout ratio is currently 36.02%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MFC. Tobias Financial Advisors Inc. purchased a new position in Manulife Financial in the fourth quarter worth $29,000. PSI Advisors LLC purchased a new position in Manulife Financial in the fourth quarter worth $30,000. Assetmark Inc. grew its holdings in Manulife Financial by 1,766.7% in the fourth quarter. Assetmark Inc. now owns 1,792 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 1,696 shares during the last quarter. Chevy Chase Trust Holdings Inc. purchased a new position in Manulife Financial in the fourth quarter worth $41,000. Finally, Carmichael Hill & Associates Inc. purchased a new position in Manulife Financial in the fourth quarter worth $47,000. 47.11% of the stock is currently owned by institutional investors and hedge funds.
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; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.
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