Manulife Financial Co. (NYSE:MFC) Receives Average Recommendation of “Buy” from Analysts

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

Several equities analysts have commented on the company. Barclays assumed coverage on Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating for the company. TD Securities upped their target price on Manulife Financial from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th.

Manulife Financial Price Performance

Shares of MFC opened at $29.53 on Friday. Manulife Financial has a one year low of $17.07 and a one year high of $29.88. The company’s fifty day moving average price is $26.87 and its 200 day moving average price is $25.78. The company has a market capitalization of $52.85 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.27. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. The firm had revenue of $9.41 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same quarter last year, the firm posted $0.62 EPS. Analysts anticipate that Manulife Financial will post 2.72 earnings per share for the current year.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.93%. The ex-dividend date was Wednesday, August 21st. Manulife Financial’s payout ratio is presently 66.86%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Anchor Investment Management LLC boosted its stake in shares of Manulife Financial by 14.5% in the 2nd quarter. Anchor Investment Management LLC now owns 7,100 shares of the financial services provider’s stock valued at $189,000 after purchasing an additional 900 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Manulife Financial during the 2nd quarter worth about $784,000. Ariadne Wealth Management LP acquired a new position in shares of Manulife Financial during the 2nd quarter worth about $271,000. Cetera Investment Advisers increased its stake in Manulife Financial by 5.5% in the second quarter. Cetera Investment Advisers now owns 152,865 shares of the financial services provider’s stock valued at $4,068,000 after purchasing an additional 8,011 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in shares of Manulife Financial in the 2nd quarter valued at $281,000. 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.