Manulife Financial Co. (NYSE:MFC – Get Rated) (TSE:MFC) earned an average “Hold” rating from the twelve research firms currently covering the stock, reports MarketBeat.com. One investment analyst has rated the stock a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the past year is $29.00.
Several research companies have recently commented on MFC. Desjardins increased his price target on Manulife Financial from C$24.00 to C$25.00 in a research note on Monday, August 15. Scotiabank raised Manulife Financial from an “industry performer” rating to an “outperformer than industry” rating in a research note on Wednesday, July 27. Finally, National Bank Financial cut its price target on Manulife Financial from C$26.00 to C$25.00 in a research note on Tuesday, July 19.
Institutional Trading of Manulife Financial
Hedge funds have recently bought and sold shares of stocks. Prospera Financial Services Inc purchased a new stake in Manulife Financial during the first quarter for $26,000. Meeder Asset Management Inc. purchased a new stake in Manulife Financial during the first quarter for $27,000. Artemis Wealth Advisors LLC purchased a new share of Manulife Financial stock during the second quarter valued at $30,000. Tradition Wealth Management LLC increased its holding in Manulife Financial stock by 173.9% during the first quarter. Tradition Wealth Management LLC now owns 1,991 shares of the financial services provider valued at $43,000 after buying an additional 1,264 shares last quarter. Finally, MCF Advisors LLC purchased a new share of Manulife Financial stock during the first quarter valued at $43,000. Hedge funds and other institutional investors own 44.50% of the company’s shares.
Manulife Financial Price Performance
MFC shares opened at $15.92 on Friday. Manulife Financial has a 1-year minimum of $15.48 and a 1-year maximum of $22.19. The stock’s 50-day simple moving average is $17.45 and its 200-day simple moving average is $18.29. The company has a market capitalization of $30.22 billion, a PE ratio of 5.20, a price/earnings growth ratio of 0.65, and a beta of 1.15.
Manulife Financial (NYSE:MFC – Get Rated) (TSE:MFC) last published its quarterly earnings data on Wednesday, August 10. The financial services provider reported earnings per share (EPS) of $0.61 for the quarter, beating analyst consensus estimates of $0.60 by $0.01. The company had revenue of $12.04 billion in the quarter, compared to analyst expectations of $11.51 billion. During the same quarter last year, the company made $0.68 of earnings per share. Stock research analysts expect Manulife Financial to post 2.51 EPS for the current year.
Financial Manulife Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 19. Investors registered on Tuesday, August 23, were paid a dividend of $0.258. The ex-dividend date of this dividend was Monday, August 22. This represents an annualized dividend of $1.03 and a yield of 6.48%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.26. Manulife Financial’s dividend payout ratio is 33.66%.
About Manulife Financial
Manulife Financial Corporation, along with its subsidiaries, offers financial products and services in Asia, Canada, the United States 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 Business segment offers mutual funds and exchange-traded funds, group savings and retirement products, and institutional asset management services through company-affiliated agents and brokers, brokerage houses and financial advisors, pension plans and banks.
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