Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks. The Insurance and Annuity Products segment offers deposit and credit products; individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing. The Corporate and Other segment is involved in property and casualty insurance and reinsurance businesses; and run-off reinsurance operations, including variable annuities, and accident and health. It also manages timberland and agricultural portfolios; and engages in insurance agency, portfolio and mutual fund management, mutual fund dealer, life, annuity, long-term care, and financial reinsurance; and fund management businesses. Additionally, the company holds and manages provides investment management, counseling, advisory, and dealer services. Manulife Financial Corporation was incorporated in 1887 and is headquartered in Toronto, Canada.
Manulife Financial Stock Performance
Shares of MFC opened at $19.04 on Wednesday. The stock has a market capitalization of $36.30 billion, a price-to-earnings ratio of 6.22, a PEG ratio of 0.75 and a beta of 1.17. The stock has a 50 day moving average price of $17.63 and a 200 day moving average price of $19.19. Manulife Financial has a one year low of $16.27 and a one year high of $22.19.
Manulife Financial (NYSE:MFC - Get Rating) (TSE:MFC) last posted its quarterly earnings results on Wednesday, August 10th. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.64 by $0.14. During the same quarter last year, the company posted $0.68 earnings per share. On average, analysts predict that Manulife Financial will post 2.52 earnings per share for the current year.
Manulife Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 19th. Investors of record on Tuesday, August 23rd will be paid a dividend of $0.258 per share. The ex-dividend date is Monday, August 22nd. This represents a $1.03 dividend on an annualized basis and a dividend yield of 5.42%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.26. Manulife Financial's dividend payout ratio (DPR) is presently 33.66%.
Analyst Ratings Changes
MFC has been the topic of a number of research reports. Desjardins upped their target price on shares of Manulife Financial from C$24.00 to C$25.00 in a research report on Monday. Canaccord Genuity Group cut Manulife Financial from a "buy" rating to a "hold" rating in a report on Friday, May 13th. StockNews.com cut shares of Manulife Financial from a "buy" rating to a "hold" rating in a research report on Tuesday, May 17th. Canaccord Genuity Group lowered shares of Manulife Financial from a "buy" rating to a "hold" rating in a research note on Friday, May 13th. Finally, Scotiabank upgraded Manulife Financial from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $29.75.
