Manulife Financial Co. (NYSE:MFC) Given Consensus Rating of "Buy" by Brokerages

Shares of Manulife Financial Co. (NYSE:MFC - Get Free Report) TSE: MFC have earned an average recommendation of "Buy" from the six brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $45.50.

A number of equities research analysts have recently weighed in on the stock. Scotiabank reiterated an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada lifted their price objective on Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Friday, February 21st.

Manulife Financial Price Performance

Shares of NYSE MFC opened at $31.30 on Wednesday. The firm has a market cap of $53.77 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 1.11 and a beta of 1.00. The stock's fifty day moving average price is $29.77 and its two-hundred day moving average price is $30.44. Manulife Financial has a one year low of $23.30 and a one year high of $33.07.

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

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.3094 per share. This is a positive change from Manulife Financial's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 3.95%. Manulife Financial's dividend payout ratio (DPR) is currently 58.45%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Manulife Financial by 60.1% during the 3rd quarter. Barclays PLC now owns 741,764 shares of the financial services provider's stock worth $21,919,000 after buying an additional 278,307 shares in the last quarter. World Investment Advisors LLC grew its position in Manulife Financial by 30.1% in the third quarter. World Investment Advisors LLC now owns 12,351 shares of the financial services provider's stock valued at $365,000 after acquiring an additional 2,860 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Manulife Financial during the third quarter worth about $119,000. Franklin Resources Inc. boosted its stake in shares of Manulife Financial by 16.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,988,200 shares of the financial services provider's stock valued at $61,426,000 after purchasing an additional 279,418 shares in the last quarter. Finally, ST Germain D J Co. Inc. grew its holdings in shares of Manulife Financial by 65.3% during the 4th quarter. ST Germain D J Co. Inc. now owns 4,547 shares of the financial services provider's stock valued at $140,000 after purchasing an additional 1,797 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

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.

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