Brokerages Set Manulife Financial Co. (NYSE:MFC) PT at $45.50

Shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) have received an average rating of “Buy” from the six analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $45.50.

Several brokerages have weighed in on MFC. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada boosted their price objective on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st.

Hedge Funds Weigh In On Manulife Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its position in shares of Manulife Financial by 16.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider’s stock worth $61,426,000 after buying an additional 279,418 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in Manulife Financial by 148.9% in the third quarter. Sanctuary Advisors LLC now owns 73,346 shares of the financial services provider’s stock valued at $2,382,000 after acquiring an additional 43,877 shares in the last quarter. Dorsey & Whitney Trust CO LLC purchased a new position in shares of Manulife Financial during the fourth quarter worth about $330,000. AEGON ASSET MANAGEMENT UK Plc grew its holdings in shares of Manulife Financial by 14.9% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 88,631 shares of the financial services provider’s stock worth $2,719,000 after purchasing an additional 11,509 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Manulife Financial by 4.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,809,774 shares of the financial services provider’s stock valued at $55,578,000 after purchasing an additional 81,799 shares during the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Stock Performance

MFC stock opened at $30.45 on Tuesday. The firm has a market cap of $52.45 billion, a PE ratio of 14.71, a PEG ratio of 1.11 and a beta of 1.05. Manulife Financial has a one year low of $22.61 and a one year high of $33.07. The firm’s 50 day moving average price is $30.05 and its 200-day moving average price is $30.29.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.07. The firm had revenue of $9.31 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. Equities research analysts predict that Manulife Financial will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.3094 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.06%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio is presently 58.45%.

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.