Manulife Financial Corp (NYSE:MFC) Given Consensus Recommendation of "Buy" by Analysts

Key Points

• Analysts' consensus: Buy — Six brokerages rate Manulife as a "Buy" (five Buy, one Strong Buy) with an average 1‑year price target of $51.50.
• Manulife beat Q results, reporting $0.80 EPS vs. $0.76 expected and revenue of $11.32 billion; the stock trades around $38.83 with a 1‑year range of $28.13–$39.22, a market cap of $64.92B and a P/E of 17.49.
• Dividend increased — quarterly dividend raised to $0.485 (annualized $1.94) for a ~5.0% yield and a dividend payout ratio of about 63.96%.

Shares of Manulife Financial Corp (NYSE:MFC - Get Free Report) TSE: MFC have earned a consensus rating of "Buy" from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $51.50.

Several brokerages have recently weighed in on MFC. Canadian Imperial Bank of Commerce upgraded Manulife Financial from a "neutral" rating to an "outperform" rating in a report on Thursday, January 8th. Weiss Ratings lowered Manulife Financial from a "buy (a-)" rating to a "buy (b)" rating in a report on Friday, February 13th. Royal Bank Of Canada restated an "outperform" rating on shares of Manulife Financial in a report on Friday, February 13th. Finally, Scotiabank restated an "outperform" rating on shares of Manulife Financial in a report on Thursday, February 5th.

Manulife Financial Stock Performance

Shares of MFC stock opened at $38.83 on Friday. Manulife Financial has a 1 year low of $28.13 and a 1 year high of $39.22. The stock has a fifty day moving average of $35.50 and a two-hundred day moving average of $35.12. The firm has a market capitalization of $64.92 billion, a PE ratio of 17.49 and a beta of 0.82.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.04. Manulife Financial had a return on equity of 16.43% and a net margin of 9.18%.The company had revenue of $11.32 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. Equities research analysts predict that Manulife Financial will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Wednesday, February 25th were issued a dividend of $0.485 per share. This is a positive change from Manulife Financial's previous quarterly dividend of $0.44. This represents a $1.94 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Wednesday, February 25th. Manulife Financial's dividend payout ratio (DPR) is currently 63.96%.

Institutional Investors Weigh In On Manulife Financial

Several hedge funds have recently modified their holdings of MFC. Brighton Jones LLC lifted its holdings in shares of Manulife Financial by 33.9% during the fourth quarter. Brighton Jones LLC now owns 9,393 shares of the financial services provider's stock valued at $288,000 after purchasing an additional 2,376 shares during the last quarter. AQR Capital Management LLC raised its position in Manulife Financial by 179.7% during the first quarter. AQR Capital Management LLC now owns 28,362 shares of the financial services provider's stock valued at $872,000 after buying an additional 18,222 shares during the period. Empowered Funds LLC raised its position in Manulife Financial by 18.7% during the first quarter. Empowered Funds LLC now owns 56,418 shares of the financial services provider's stock valued at $1,757,000 after buying an additional 8,900 shares during the period. Sivia Capital Partners LLC raised its position in Manulife Financial by 13.1% during the second quarter. Sivia Capital Partners LLC now owns 7,843 shares of the financial services provider's stock valued at $251,000 after buying an additional 909 shares during the period. Finally, MUFG Securities EMEA plc raised its position in Manulife Financial by 814.3% during the second quarter. MUFG Securities EMEA plc now owns 6,399,999 shares of the financial services provider's stock valued at $204,544,000 after buying an additional 5,699,999 shares during the period. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Company Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.

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