Manulife Financial Co. (NYSE:MFC) (TSE:MFC) – Investment analysts at Cormark dropped their Q1 2018 EPS estimates for shares of Manulife Financial in a report released on Friday. Cormark analyst M. Grauman now forecasts that the financial services provider will post earnings of $0.52 per share for the quarter, down from their prior estimate of $0.53. Cormark also issued estimates for Manulife Financial’s Q2 2018 earnings at $0.52 EPS, Q3 2018 earnings at $0.54 EPS, Q4 2018 earnings at $0.55 EPS, FY2018 earnings at $2.13 EPS, Q1 2019 earnings at $0.57 EPS, Q2 2019 earnings at $0.57 EPS, Q3 2019 earnings at $0.58 EPS, Q4 2019 earnings at $0.59 EPS and FY2019 earnings at $2.30 EPS.
A number of other research analysts also recently issued reports on MFC. Zacks Investment Research downgraded shares of Manulife Financial from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Scotiabank restated a “buy” rating and issued a $31.00 price target on shares of Manulife Financial in a research report on Wednesday, January 31st. Finally, National Bank Financial upgraded shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $26.67.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Stockholders of record on Wednesday, February 21st will be given a $0.175 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.51%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.16. Manulife Financial’s payout ratio is 86.49%.
Institutional investors have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI lifted its position in shares of Manulife Financial by 3,803.6% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 6,441 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 6,276 shares during the period. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Manulife Financial during the 4th quarter valued at $203,000. ProVise Management Group LLC acquired a new position in shares of Manulife Financial during the 4th quarter valued at $204,000. Lourd Capital LLC acquired a new position in shares of Manulife Financial during the 4th quarter valued at $209,000. Finally, Squar Milner Financial Services LLC acquired a new position in shares of Manulife Financial during the 4th quarter valued at $212,000. Institutional investors own 46.26% of the company’s stock.
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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