Manulife Financial Co. (NYSE:MFC) (TSE:MFC) – National Bank Financial dropped their Q3 2018 earnings per share estimates for Manulife Financial in a research report issued to clients and investors on Thursday. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will post earnings of $0.51 per share for the quarter, down from their previous estimate of $0.54. National Bank Financial has a “Outperform” rating on the stock. National Bank Financial also issued estimates for Manulife Financial’s FY2019 earnings at $2.24 EPS.
A number of other research firms also recently issued reports on MFC. Scotiabank restated a “buy” rating and set a $31.00 target price on shares of Manulife Financial in a research report on Wednesday, January 31st. Zacks Investment Research upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $26.67.
Several hedge funds have recently made changes to their positions in the company. Timber Hill LLC bought a new stake in shares of Manulife Financial in the 4th quarter valued at about $558,000. Baird Financial Group Inc. increased its stake in shares of Manulife Financial by 73.8% in the 4th quarter. Baird Financial Group Inc. now owns 66,171 shares of the financial services provider’s stock valued at $1,380,000 after acquiring an additional 28,094 shares during the last quarter. FDx Advisors Inc. bought a new stake in shares of Manulife Financial in the 4th quarter valued at about $212,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Manulife Financial in the 4th quarter valued at about $617,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Manulife Financial by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 2,917,802 shares of the financial services provider’s stock valued at $60,866,000 after acquiring an additional 73,559 shares during the last quarter. 46.26% of the stock is owned by institutional investors.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Stockholders of record on Wednesday, February 21st will be paid a $0.175 dividend. The ex-dividend date is Tuesday, February 20th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.16. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.51%. Manulife Financial’s dividend payout ratio is 86.49%.
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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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