Manulife Financial Co. (NYSE:MFC) Receives $37.50 Average PT from Analysts

Shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) have been given an average recommendation of “Buy” by the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $37.50.

MFC has been the topic of several research analyst reports. Barclays began coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group acquired a new stake in shares of Manulife Financial during the 3rd quarter worth approximately $26,000. West Financial Advisors LLC acquired a new stake in Manulife Financial during the third quarter valued at $26,000. Grove Bank & Trust purchased a new position in Manulife Financial in the second quarter valued at $25,000. Capital Performance Advisors LLP acquired a new position in shares of Manulife Financial in the third quarter worth about $30,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Manulife Financial during the 3rd quarter worth about $31,000. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Trading Down 0.6 %

MFC opened at $32.48 on Monday. The firm has a market cap of $56.90 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.19 and a beta of 1.08. Manulife Financial has a 12 month low of $19.13 and a 12 month high of $33.07. The stock has a fifty day moving average price of $30.38 and a 200-day moving average price of $27.67.

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

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be paid a $0.296 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.65%. Manulife Financial’s dividend payout ratio is presently 57.00%.

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.