Manulife Financial Co. (NYSE:MFC) (TSE:MFC) – Analysts at Desjardins raised their FY2017 earnings per share estimates for shares of Manulife Financial in a research note issued to investors on Wednesday. Desjardins analyst D. Young now expects that the financial services provider will post earnings per share of $1.79 for the year, up from their prior forecast of $1.77. Desjardins also issued estimates for Manulife Financial’s Q4 2017 earnings at $0.44 EPS, FY2018 earnings at $2.01 EPS and FY2019 earnings at $2.17 EPS.
Other equities research analysts have also recently issued reports about the stock. ValuEngine cut shares of Manulife Financial from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 18th. Zacks Investment Research upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Tuesday, January 2nd. Finally, Morgan Stanley lifted their price target on shares of Manulife Financial from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $25.00.
Several institutional investors and hedge funds have recently made changes to their positions in MFC. Ropes Wealth Advisors LLC acquired a new stake in shares of Manulife Financial during the second quarter valued at about $103,000. D.A. Davidson & CO. grew its holdings in shares of Manulife Financial by 17.5% in the second quarter. D.A. Davidson & CO. now owns 6,768 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 1,010 shares in the last quarter. Citizens Financial Group Inc. RI grew its holdings in shares of Manulife Financial by 3,803.6% in the third quarter. Citizens Financial Group Inc. RI now owns 6,441 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 6,276 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Manulife Financial by 25.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,284 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 2,103 shares in the last quarter. Finally, Investment Centers of America Inc. acquired a new position in shares of Manulife Financial in the third quarter valued at approximately $216,000. Institutional investors and hedge funds own 46.51% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 21st were given a dividend of $0.1606 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Monday, November 20th. Manulife Financial’s dividend payout ratio is presently 43.84%.
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About Manulife Financial
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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