Manulife Financial Co. (NYSE:MFC) (TSE:MFC) has received an average rating of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $27.00.
A number of brokerages have recently weighed in on MFC. Zacks Investment Research cut shares of Manulife Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 14th. Barclays reissued a “buy” rating on shares of Manulife Financial in a research note on Thursday, January 10th. ValuEngine raised shares of Manulife Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. Finally, TheStreet raised shares of Manulife Financial from a “c+” rating to a “b-” rating in a research note on Friday, November 30th.
Shares of MFC traded down $0.22 during mid-day trading on Thursday, reaching $16.85. 2,037,054 shares of the company’s stock were exchanged, compared to its average volume of 1,990,607. Manulife Financial has a 52-week low of $13.33 and a 52-week high of $19.63. The stock has a market cap of $33.53 billion, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 0.77 and a beta of 1.37.
Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, February 13th. The financial services provider reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.15. Manulife Financial had a net margin of 12.34% and a return on equity of 13.51%. The business had revenue of $6.44 billion during the quarter. During the same period last year, the business earned $0.59 earnings per share. On average, equities analysts expect that Manulife Financial will post 2.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 27th will be paid a $0.1883 dividend. The ex-dividend date of this dividend is Tuesday, February 26th. This represents a $0.75 annualized dividend and a yield of 4.47%. Manulife Financial’s payout ratio is currently 36.02%.
Hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley grew its stake in Manulife Financial by 15.1% in the 3rd quarter. Morgan Stanley now owns 2,568,231 shares of the financial services provider’s stock worth $45,919,000 after acquiring an additional 336,398 shares during the period. Weather Gauge Advisory LLC purchased a new stake in Manulife Financial in the 4th quarter worth approximately $1,132,000. Endurance Wealth Management Inc. grew its stake in Manulife Financial by 7.0% in the 4th quarter. Endurance Wealth Management Inc. now owns 340,398 shares of the financial services provider’s stock worth $4,830,000 after acquiring an additional 22,150 shares during the period. Janus Henderson Group PLC grew its stake in Manulife Financial by 62.9% in the 3rd quarter. Janus Henderson Group PLC now owns 5,862,471 shares of the financial services provider’s stock worth $104,791,000 after acquiring an additional 2,263,264 shares during the period. Finally, BB&T Corp grew its stake in Manulife Financial by 5.5% in the 4th quarter. BB&T Corp now owns 79,501 shares of the financial services provider’s stock worth $1,128,000 after acquiring an additional 4,121 shares during the period. 47.87% of the stock is owned by hedge funds and other institutional investors.
Manulife Financial Company Profile
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers 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.
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