Shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) have been given an average recommendation of “Buy” by the twelve research firms that are covering the stock. Four investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $22.00.
Separately, Zacks Investment Research raised shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Tuesday, January 10th.
A number of large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Manulife Financial during the fourth quarter worth about $25,346,000. WFG Advisors LP raised its stake in shares of Manulife Financial by 225.1% in the fourth quarter. WFG Advisors LP now owns 3,758 shares of the company’s stock worth $440,000 after buying an additional 2,602 shares during the period. Jarislowsky Fraser Ltd raised its stake in shares of Manulife Financial by 1.0% in the fourth quarter. Jarislowsky Fraser Ltd now owns 34,936,961 shares of the company’s stock worth $622,902,000 after buying an additional 333,725 shares during the period. Wall Street Access Asset Management LLC raised its stake in shares of Manulife Financial by 0.6% in the fourth quarter. Wall Street Access Asset Management LLC now owns 170,997 shares of the company’s stock worth $3,047,000 after buying an additional 1,000 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Manulife Financial during the fourth quarter worth about $13,979,000. 49.00% of the stock is owned by institutional investors and hedge funds.
Shares of Manulife Financial (NYSE:MFC) opened at 17.49 on Tuesday. The stock has a 50 day moving average of $18.34 and a 200-day moving average of $16.86. Manulife Financial has a one year low of $12.55 and a one year high of $19.52. The company has a market capitalization of $34.55 billion, a price-to-earnings ratio of 16.69 and a beta of 1.53.
Manulife Financial (NYSE:MFC) last released its earnings results on Thursday, February 9th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.08. Manulife Financial had a net margin of 4.63% and a return on equity of 10.21%. During the same period last year, the business posted $0.42 earnings per share. On average, equities analysts expect that Manulife Financial will post $1.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 20th. Shareholders of record on Wednesday, February 22nd were issued a dividend of $0.1574 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.14. This represents a $0.63 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Friday, February 17th. Manulife Financial’s dividend payout ratio (DPR) is 52.38%.
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Manulife Financial Company Profile
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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