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.
Analyst Upgrades and Downgrades
MFC has been the topic of a number of analyst reports. Canaccord Genuity Group cut shares of Manulife Financial from a "buy" rating to a "hold" rating in a report on Friday, May 13th. Scotiabank raised shares of Manulife Financial from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, July 27th. Desjardins raised their target price on shares of Manulife Financial from C$24.00 to C$25.00 in a research note on Monday. StockNews.com cut shares of Manulife Financial from a "buy" rating to a "hold" rating in a research note on Tuesday, May 17th. Finally, BMO Capital Markets cut shares of Manulife Financial from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $29.75.
Manulife Financial Price Performance
Shares of MFC remained flat at $18.90 during mid-day trading on Tuesday. 10,580 shares of the stock traded hands, compared to its average volume of 2,616,380. The company has a fifty day moving average of $17.63 and a 200-day moving average of $19.19. The company has a market cap of $36.03 billion, a PE ratio of 6.18, a price-to-earnings-growth ratio of 0.77 and a beta of 1.17. Manulife Financial has a 12 month low of $16.27 and a 12 month high of $22.19.
Manulife Financial (NYSE:MFC - Get Rating) (TSE:MFC) last announced its 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 firm earned $0.68 earnings per share. Equities research analysts forecast that Manulife Financial will post 2.49 EPS for the current fiscal year.
Manulife Financial Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 19th. Shareholders of record on Tuesday, August 23rd will be issued a $0.258 dividend. This represents a $1.03 annualized dividend and a dividend yield of 5.46%. This is a boost from Manulife Financial's previous quarterly dividend of $0.26. The ex-dividend date is Monday, August 22nd. Manulife Financial's dividend payout ratio (DPR) is presently 33.66%.