Manulife Financial Co. (NYSE:MFC) Receives Consensus Rating of “Buy” from Analysts

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

MFC has been the topic of several analyst reports. Royal Bank of Canada increased their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd.

Manulife Financial Stock Down 1.3 %

NYSE:MFC opened at $28.62 on Friday. The firm has a market cap of $49.18 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 1.11 and a beta of 0.89. Manulife Financial has a 12 month low of $22.61 and a 12 month high of $33.07. The company’s 50-day moving average price is $29.78 and its two-hundred day moving average price is $30.43.

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

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.3094 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Wednesday, March 5th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s payout ratio is presently 58.45%.

Institutional Trading of Manulife Financial

Institutional investors have recently modified their holdings of the stock. Little House Capital LLC raised its stake in Manulife Financial by 1.0% during the fourth quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider’s stock worth $1,037,000 after acquiring an additional 331 shares in the last quarter. Robertson Stephens Wealth Management LLC increased its position in Manulife Financial by 1.5% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider’s stock worth $708,000 after purchasing an additional 339 shares in the last quarter. Erste Asset Management GmbH lifted its stake in Manulife Financial by 0.6% in the 4th quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider’s stock valued at $2,133,000 after purchasing an additional 400 shares during the last quarter. TIAA Trust National Association boosted its position in Manulife Financial by 5.0% in the fourth quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider’s stock valued at $259,000 after buying an additional 404 shares in the last quarter. Finally, Addison Advisors LLC grew its stake in shares of Manulife Financial by 45.9% during the fourth quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider’s stock worth $44,000 after buying an additional 449 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors.

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.