Manulife Financial Co. (NYSE:MFC) Receives Consensus Rating of “Buy” from Brokerages

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) has been assigned an average recommendation of “Buy” from the six analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $45.50.

A number of research firms recently weighed in on MFC. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada raised their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 21st.

Manulife Financial Trading Down 0.1 %

Shares of MFC opened at $30.77 on Friday. The firm has a market cap of $53.02 billion, a P/E ratio of 14.86, a PEG ratio of 1.11 and a beta of 1.09. The stock’s 50 day moving average is $30.34 and its two-hundred day moving average is $29.92. Manulife Financial has a 12 month low of $22.61 and a 12 month high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping 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 company had revenue of $9.31 billion during the quarter. Equities research analysts forecast that Manulife Financial will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.3094 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.02%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, March 5th. Manulife Financial’s dividend payout ratio (DPR) is 58.45%.

Institutional Investors Weigh In On Manulife Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MFC. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Manulife Financial by 6.7% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 13,168 shares of the financial services provider’s stock valued at $404,000 after acquiring an additional 830 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Manulife Financial by 0.9% during the 4th quarter. Mackenzie Financial Corp now owns 24,614,416 shares of the financial services provider’s stock worth $755,367,000 after buying an additional 230,105 shares during the last quarter. Invst LLC raised its position in Manulife Financial by 12.2% during the fourth quarter. Invst LLC now owns 22,352 shares of the financial services provider’s stock worth $686,000 after acquiring an additional 2,423 shares during the last quarter. WCG Wealth Advisors LLC increased its stake in shares of Manulife Financial by 4.5% during the 4th quarter. WCG Wealth Advisors LLC now owns 30,903 shares of the financial services provider’s stock worth $949,000 after purchasing an additional 1,332 shares in the last quarter. Finally, Pacific Point Advisors LLC acquired a new position in shares of Manulife Financial in the fourth quarter worth $335,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

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.