Manulife Financial Corp. (MFC) Now Covered by Dundee Securities
Stock analysts at Dundee Securities initiated coverage on shares of Manulife Financial Corp. (NYSE:MFC) in a research report issued to clients and investors on Wednesday. The brokerage set a “buy” rating on the stock.
MFC has been the subject of several other reports. Zacks Investment Research downgraded Manulife Financial Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 31st. TD Securities reissued a “hold” rating and issued a $19.00 price objective on shares of Manulife Financial Corp. in a research report on Wednesday, August 10th. Bank of America Corp. initiated coverage on shares of Manulife Financial Corp. in a research report on Wednesday, August 24th. They issued a “buy” rating for the company. Scotiabank reissued an “outperform” rating and issued a $19.00 price objective (down from $20.00) on shares of Manulife Financial Corp. in a research report on Wednesday, August 10th. Finally, Canaccord Genuity reissued a “hold” rating on shares of Manulife Financial Corp. in a research report on Monday, June 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $21.00.
Manulife Financial Corp. (NYSE:MFC) opened at 13.90 on Wednesday. The company has a 50-day moving average price of $13.55 and a 200 day moving average price of $13.94. Manulife Financial Corp. has a 12 month low of $10.99 and a 12 month high of $17.17. The firm has a market cap of $27.42 billion, a PE ratio of 14.52 and a beta of 1.63.
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Manulife Financial Corp. (NYSE:MFC) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Manulife Financial Corp. had a return on equity of 8.97% and a net margin of 4.37%. During the same period in the prior year, the company posted $0.44 earnings per share. Equities research analysts anticipate that Manulife Financial Corp. will post $1.34 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Tuesday, August 16th were issued a $0.141 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $0.56 dividend on an annualized basis and a yield of 4.06%. Manulife Financial Corp.’s dividend payout ratio is currently 61.96%.
A number of institutional investors have recently modified their holdings of the company. NN Investment Partners Holdings N.V. acquired a new position in shares of Manulife Financial Corp. during the first quarter worth about $1,857,000. Nikko Asset Management Americas Inc. acquired a new position in shares of Manulife Financial Corp. during the first quarter worth about $184,000. BlackRock Institutional Trust Company N.A. acquired a new position in shares of Manulife Financial Corp. during the first quarter worth about $107,000. Franklin Resources Inc. boosted its position in shares of Manulife Financial Corp. by 8.3% in the first quarter. Franklin Resources Inc. now owns 405,490 shares of the company’s stock worth $5,742,000 after buying an additional 31,121 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in shares of Manulife Financial Corp. by 36.5% in the first quarter. Stratos Wealth Partners LTD. now owns 18,479 shares of the company’s stock worth $261,000 after buying an additional 4,937 shares in the last quarter. 49.50% of the stock is currently owned by hedge funds and other institutional investors.
Manulife Financial Corp. Company Profile
Manulife Financial Corporation (MFC) is a life insurance company. The Company is a holding company of The Manufacturers Life Insurance Company (MLI), a Canadian life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), a Bermuda reinsurance company. The Company’s segments, including Asia Division, Canadian Division, U.S.
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