Manulife Financial Corp (NYSE:MFC) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Manulife Financial has a “Moderate Buy” consensus rating from eight analysts, with six buy ratings, one strong buy, and one sell. The average 12-month price target is $51.50, above the reported share price of $43.64.
• The company reported quarterly EPS of $0.77, slightly below the $0.79 analyst consensus, while revenue totaled $8.89 billion. Analysts expect full-year EPS of approximately $3.03.
• Manulife declared a quarterly dividend of $0.485, equivalent to $1.94 annually and a 4.4% yield; institutional investors and hedge funds own 52.56% of the company.

Manulife Financial Corp (NYSE:MFC - Get Free Report) TSE: MFC has been assigned a consensus recommendation of "Moderate Buy" from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $51.50.

MFC has been the topic of a number of recent analyst reports. Scotiabank reissued an "outperform" rating on shares of Manulife Financial in a report on Wednesday, July 15th. TD Securities reaffirmed a "buy" rating on shares of Manulife Financial in a report on Thursday, May 14th. Zacks Research lowered shares of Manulife Financial from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 15th. Finally, Weiss Ratings cut shares of Manulife Financial from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday, July 21st.

Institutional Investors Weigh In On Manulife Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. Basepoint Wealth LLC bought a new stake in Manulife Financial during the fourth quarter valued at $25,000. Hantz Financial Services Inc. bought a new position in Manulife Financial in the 4th quarter worth about $28,000. Sfam LLC purchased a new stake in shares of Manulife Financial in the 4th quarter valued at about $28,000. Heritage Wealth Advisors purchased a new stake in shares of Manulife Financial in the 4th quarter valued at about $30,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Manulife Financial during the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 52.56% of the company's stock.

Manulife Financial Stock Performance

Shares of NYSE MFC opened at $43.64 on Monday. Manulife Financial has a fifty-two week low of $29.70 and a fifty-two week high of $43.81. The stock has a market cap of $72.53 billion, a PE ratio of 17.32 and a beta of 0.84. The stock has a fifty day moving average of $40.33 and a 200-day moving average of $37.96.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings data on Wednesday, May 13th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.79 by ($0.02). The company had revenue of $8.89 billion for the quarter, compared to analysts' expectations of $2.32 billion. Manulife Financial had a return on equity of 16.58% and a net margin of 10.19%.During the same period last year, the company posted $0.99 EPS. On average, sell-side analysts predict that Manulife Financial will post 3.03 EPS for the current year.

Manulife Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, May 29th were issued a $0.485 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.94 annualized dividend and a dividend yield of 4.4%. Manulife Financial's dividend payout ratio is presently 56.75%.

About Manulife Financial

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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