Manulife Financial Co. (NYSE:MFC) (TSE:MFC) – Equities research analysts at Desjardins upped their FY2017 EPS estimates for Manulife Financial in a research note issued on Wednesday. Desjardins analyst D. Young now anticipates that the financial services provider will earn $1.79 per share for the year, up from their prior forecast of $1.77. Desjardins also issued estimates for Manulife Financial’s Q4 2017 earnings at $0.44 EPS, FY2018 earnings at $2.01 EPS and FY2019 earnings at $2.17 EPS.
Several other equities research analysts have also recently commented on the company. Zacks Investment Research raised Manulife Financial from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, January 2nd. Morgan Stanley lifted their target price on Manulife Financial from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Finally, ValuEngine cut Manulife Financial from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 18th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $25.00.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ropes Wealth Advisors LLC acquired a new stake in shares of Manulife Financial in the 2nd quarter valued at $103,000. D.A. Davidson & CO. increased its stake in shares of Manulife Financial by 17.5% in the 2nd quarter. D.A. Davidson & CO. now owns 6,768 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,010 shares during the period. Citizens Financial Group Inc. RI increased its stake in shares of Manulife Financial by 3,803.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 6,441 shares of the financial services provider’s stock valued at $131,000 after buying an additional 6,276 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Manulife Financial by 25.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,284 shares of the financial services provider’s stock valued at $193,000 after buying an additional 2,103 shares during the period. Finally, Investment Centers of America Inc. acquired a new stake in shares of Manulife Financial in the 3rd quarter valued at $216,000. 46.51% of the stock is owned by institutional investors.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 19th. Stockholders of record on Tuesday, November 21st were paid a $0.1606 dividend. The ex-dividend date of this dividend was Monday, November 20th. This represents a $0.64 annualized dividend and a dividend yield of 2.96%. Manulife Financial’s dividend payout ratio (DPR) is currently 44.14%.
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About Manulife Financial
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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