Analysts Set Manulife Financial Co. (NYSE:MFC) Price Target at $35.67

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) has earned an average rating of “Buy” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $35.67.

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

Manulife Financial Price Performance

Shares of MFC opened at $30.23 on Thursday. The firm has a 50-day simple moving average of $28.77 and a two-hundred day simple moving average of $26.65. The stock has a market cap of $54.10 billion, a PE ratio of 17.58, a P/E/G ratio of 1.10 and a beta of 1.08. Manulife Financial has a 1-year low of $17.30 and a 1-year high of $30.86.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.27. The firm had revenue of $9.41 billion during the quarter, compared to the consensus estimate of $8.95 billion. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. During the same quarter last year, the firm earned $0.62 EPS. As a group, sell-side analysts expect that Manulife Financial will post 2.74 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were paid a $0.29 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $1.16 annualized dividend and a yield of 3.84%. Manulife Financial’s dividend payout ratio is presently 66.86%.

Institutional Trading of Manulife Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. Americana Partners LLC increased its position in Manulife Financial by 0.5% during the third quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider’s stock worth $2,068,000 after buying an additional 364 shares during the period. Indiana Trust & Investment Management CO increased its holdings in shares of Manulife Financial by 22.2% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,540 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 462 shares during the period. Addison Advisors LLC raised its position in Manulife Financial by 77.2% in the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 467 shares during the last quarter. LRI Investments LLC raised its position in Manulife Financial by 8.6% in the 2nd quarter. LRI Investments LLC now owns 6,819 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 542 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its position in Manulife Financial by 1.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 41,841 shares of the financial services provider’s stock worth $1,236,000 after purchasing an additional 547 shares during the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

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.