Manulife Financial (NYSE:MFC) Announces Quarterly Earnings Results

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

Manulife Financial Price Performance

Shares of MFC traded down $1.46 during mid-day trading on Friday, reaching $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 52-week low of $22.61 and a 52-week high of $33.07. The business's fifty day moving average is $30.32 and its 200 day moving average is $29.75. The firm has a market cap of $52.32 billion, a price-to-earnings ratio of 14.67, a P/E/G 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. Investors of record on Wednesday, March 5th will be issued a $0.3094 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.08%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.30. Manulife Financial's dividend payout ratio is currently 59.42%.

Wall Street Analyst Weigh In

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

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.