Manulife Financial Co. (NYSE:MFC) Receives $35.67 Consensus PT from Brokerages

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) has earned a consensus rating of “Buy” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $35.67.

MFC has been the subject of several research analyst reports. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. TD Securities raised their target price on Manulife Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Barclays began coverage on Manulife Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Grove Bank & Trust bought a new position in shares of Manulife Financial during the 2nd quarter valued at $25,000. Fortis Group Advisors LLC lifted its stake in shares of Manulife Financial by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 1,210 shares of the financial services provider’s stock worth $27,000 after buying an additional 605 shares in the last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of Manulife Financial by 73.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,156 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 490 shares in the last quarter. Addison Advisors LLC boosted its position in Manulife Financial by 77.2% in the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 467 shares during the last quarter. Finally, HHM Wealth Advisors LLC raised its position in Manulife Financial by 119.0% in the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 600 shares during the period. 52.56% of the stock is owned by institutional investors.

Manulife Financial Trading Up 2.1 %

MFC stock opened at $30.24 on Friday. Manulife Financial has a 1-year low of $17.07 and a 1-year high of $30.25. The stock has a market cap of $54.12 billion, a P/E ratio of 17.58, a P/E/G ratio of 1.06 and a beta of 1.08. The stock’s fifty day simple moving average is $27.24 and its two-hundred day simple moving average is $25.99.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.27. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. The company had revenue of $9.41 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same quarter in the prior year, the business earned $0.62 earnings per share. As a group, analysts forecast that Manulife Financial will post 2.72 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend was Wednesday, August 21st. Manulife Financial’s dividend payout ratio (DPR) is presently 66.86%.

About Manulife Financial

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.