Manulife Financial Co. (NYSE:MFC) Receives $45.50 Average Price Target from Analysts

Manulife Financial Co. (NYSE:MFC - Get Free Report) TSE: MFC has received a consensus rating of "Buy" from the six research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $45.50.

Several equities research analysts have recently issued reports on MFC shares. Royal Bank of Canada increased their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Scotiabank reissued an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd.

Manulife Financial Trading Up 0.8 %

Shares of NYSE:MFC traded up $0.23 on Friday, hitting $28.99. The company had a trading volume of 1,604,916 shares, compared to its average volume of 2,244,969. The company has a market cap of $49.82 billion, a PE ratio of 14.01, a PEG ratio of 1.11 and a beta of 0.89. The business has a 50 day moving average of $29.83 and a 200 day moving average of $30.46. Manulife Financial has a 52-week low of $22.61 and a 52-week high of $33.07.

Remove Ads

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping 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, equities analysts predict that Manulife Financial will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.3094 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 4.27%. This is a boost from Manulife Financial's previous quarterly dividend of $0.30. Manulife Financial's dividend payout ratio is currently 58.45%.

Institutional Trading of Manulife Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Stifel Financial Corp boosted its position in shares of Manulife Financial by 0.6% in the third quarter. Stifel Financial Corp now owns 148,683 shares of the financial services provider's stock worth $4,394,000 after buying an additional 859 shares during the period. Wellington Management Group LLP lifted its stake in Manulife Financial by 131.2% in the 3rd quarter. Wellington Management Group LLP now owns 644,602 shares of the financial services provider's stock worth $19,072,000 after acquiring an additional 365,761 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in Manulife Financial by 26.3% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 45,975 shares of the financial services provider's stock worth $1,359,000 after acquiring an additional 9,582 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Manulife Financial during the 3rd quarter valued at about $7,007,000. Finally, Barclays PLC increased its holdings in shares of Manulife Financial by 60.1% in the 3rd quarter. Barclays PLC now owns 741,764 shares of the financial services provider's stock valued at $21,919,000 after purchasing an additional 278,307 shares during the period. Institutional investors and hedge funds own 52.56% of the company's stock.

Manulife Financial Company Profile

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.