Brokerages Set Manulife Financial Co. (NYSE:MFC) Target Price at $45.50

Shares of Manulife Financial Co. (NYSE:MFC - Get Free Report) TSE: MFC have been assigned a consensus rating of "Buy" from the six analysts that are covering the firm, Marketbeat reports. One 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 twelve-month price objective among brokers that have issued a report on the stock in the last year is $45.50.

Several research analysts have commented on the company. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada lifted their price objective on Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st.

Manulife Financial Stock Performance

Shares of NYSE:MFC traded down $0.09 during midday trading on Tuesday, hitting $30.45. 2,055,980 shares of the stock were exchanged, compared to its average volume of 1,958,917. The business's 50-day moving average price is $30.04 and its 200 day moving average price is $30.25. Manulife Financial has a 12 month low of $22.61 and a 12 month high of $33.07. The stock has a market capitalization of $52.45 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 1.11 and a beta of 1.05.

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Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.07. The firm had revenue of $9.31 billion during the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. As a group, sell-side analysts expect that Manulife Financial will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.3094 per share. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Wednesday, March 5th. Manulife Financial's dividend payout ratio is 58.45%.

Hedge Funds Weigh In On Manulife Financial

Large investors have recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in Manulife Financial during the 3rd quarter worth approximately $26,000. Crews Bank & Trust bought a new position in Manulife Financial during the 4th quarter valued at $26,000. Lee Danner & Bass Inc. bought a new position in Manulife Financial during the 4th quarter valued at $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Manulife Financial in the 4th quarter worth $34,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Manulife Financial in the fourth quarter valued at about $35,000. 52.56% of the stock is currently owned by institutional investors.

About Manulife Financial

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.