Manulife Financial Co. (NYSE:MFC) Receives Consensus Rating of “Buy” from Brokerages

Shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) have been assigned a consensus rating of “Buy” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is $33.33.

A number of equities analysts recently commented on MFC shares. Desjardins upgraded Manulife Financial from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. BMO Capital Markets upgraded shares of Manulife Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $31.00 to $35.00 in a research report on Thursday, February 15th. Finally, Jefferies Financial Group started coverage on shares of Manulife Financial in a research report on Thursday, February 22nd. They set a “buy” rating for the company.

Manulife Financial Price Performance

Shares of NYSE MFC opened at $23.56 on Thursday. The stock has a market capitalization of $42.43 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.87 and a beta of 1.08. The business has a 50-day moving average of $23.95 and a 200-day moving average of $21.74. Manulife Financial has a fifty-two week low of $17.07 and a fifty-two week high of $25.14.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. Manulife Financial had a return on equity of 15.98% and a net margin of 10.42%. The business had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $7.57 billion. On average, sell-side analysts expect that Manulife Financial will post 2.7 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, February 28th were paid a $0.298 dividend. This represents a $1.19 dividend on an annualized basis and a yield of 5.06%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.26. The ex-dividend date was Tuesday, February 27th. Manulife Financial’s dividend payout ratio (DPR) is 61.66%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MFC. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Manulife Financial in the third quarter valued at $27,000. Anchor Investment Management LLC bought a new position in shares of Manulife Financial during the 4th quarter valued at approximately $27,000. Fortis Group Advisors LLC lifted its stake in shares of Manulife Financial by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 1,210 shares of the financial services provider’s stock valued at $27,000 after buying an additional 605 shares in the last quarter. Trust Co. of Vermont lifted its stake in shares of Manulife Financial by 478.5% during the 3rd quarter. Trust Co. of Vermont now owns 1,533 shares of the financial services provider’s stock valued at $28,000 after buying an additional 1,268 shares in the last quarter. Finally, Arlington Trust Co LLC purchased a new stake in shares of Manulife Financial during the 3rd quarter valued at approximately $29,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Company Profile

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.