Manulife Financial (NYSE:MFC) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC announced its quarterly earnings results on Wednesday. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.07, Zacks reports. The business had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 16.15%.

Manulife Financial Stock Performance

NYSE:MFC traded down $1.46 on Friday, hitting $30.36. The stock had a trading volume of 2,557,574 shares, compared to its average volume of 2,066,261. Manulife Financial has a 1 year low of $22.61 and a 1 year high of $33.07. The firm's fifty day simple moving average is $30.32 and its two-hundred day simple moving average is $29.75. The stock has a market cap of $52.32 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 1.04 and a beta of 1.09.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.3094 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 4.08%. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, March 5th. Manulife Financial's dividend payout ratio is presently 59.42%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada raised their target price on Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Friday. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Manulife Financial currently has a consensus rating of "Buy" and a consensus price target of $45.50.

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.