Analysts Set Manulife Financial Co. (NYSE:MFC) Target Price at $37.50

Manulife Financial Co. (NYSE:MFC - Get Free Report) TSE: MFC has earned a consensus recommendation of "Buy" from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $37.50.

A number of equities research analysts have weighed in on the stock. Dbs Bank raised shares of Manulife Financial to a "strong-buy" rating in a report on Thursday, August 8th. Barclays began coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They set an "equal weight" rating for the company.

Manulife Financial Stock Down 1.0 %

Manulife Financial stock traded down $0.32 during trading hours on Monday, hitting $32.34. 5,692,378 shares of the company traded hands, compared to its average volume of 2,543,140. Manulife Financial has a 1-year low of $18.91 and a 1-year high of $33.07. The firm has a market cap of $56.66 billion, a P/E ratio of 15.78, a P/E/G ratio of 1.19 and a beta of 1.08. The firm's 50-day simple moving average is $29.91 and its two-hundred day simple moving average is $27.43.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.30. The business had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same quarter last year, the business earned $0.69 earnings per share. On average, equities research analysts predict that Manulife Financial will post 2.74 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.296 per share. This is an increase from Manulife Financial's previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.66%. Manulife Financial's payout ratio is currently 57.00%.

Institutional Investors Weigh In On Manulife Financial

A number of institutional investors have recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Manulife Financial by 1,210.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,161,059 shares of the financial services provider's stock worth $30,922,000 after purchasing an additional 1,072,474 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Manulife Financial by 2,913.7% during the 1st quarter. Bessemer Group Inc. now owns 86,615 shares of the financial services provider's stock valued at $2,163,000 after buying an additional 83,741 shares during the period. Legal & General Group Plc grew its holdings in shares of Manulife Financial by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider's stock valued at $393,592,000 after acquiring an additional 75,244 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Manulife Financial by 1.0% in the first quarter. Vanguard Group Inc. now owns 72,289,251 shares of the financial services provider's stock worth $1,806,508,000 after acquiring an additional 727,764 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Manulife Financial during the first quarter worth $1,705,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

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.