Analysts Set Manulife Financial Co. (NYSE:MFC) PT at $45.50

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) has been assigned a consensus recommendation of “Buy” from the six analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $45.50.

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

Manulife Financial Stock Performance

Shares of NYSE:MFC opened at $30.36 on Friday. The stock has a market capitalization of $52.32 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.11 and a beta of 1.09. Manulife Financial has a 1-year low of $22.61 and a 1-year high of $33.07. The company has a 50 day moving average price of $30.32 and a 200 day moving average price of $29.83.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. The firm had revenue of $9.31 billion during the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. On average, sell-side analysts expect that Manulife Financial will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.3094 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a yield of 4.08%. Manulife Financial’s dividend payout ratio (DPR) is currently 59.42%.

Institutional Investors Weigh In On Manulife Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MFC. Baron Wealth Management LLC raised its holdings in Manulife Financial by 2.3% in the 3rd quarter. Baron Wealth Management LLC now owns 14,400 shares of the financial services provider’s stock worth $426,000 after acquiring an additional 330 shares during the period. Little House Capital LLC raised its holdings in Manulife Financial by 1.0% in the 4th quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider’s stock worth $1,037,000 after acquiring an additional 331 shares during the period. Robertson Stephens Wealth Management LLC raised its holdings in Manulife Financial by 1.5% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider’s stock worth $708,000 after acquiring an additional 339 shares during the period. Americana Partners LLC raised its holdings in Manulife Financial by 0.5% in the 3rd quarter. Americana Partners LLC now owns 69,967 shares of the financial services provider’s stock worth $2,068,000 after acquiring an additional 364 shares during the period. Finally, Erste Asset Management GmbH raised its holdings in Manulife Financial by 0.6% in the 4th quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider’s stock worth $2,133,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 52.56% of the company’s stock.

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.