Manulife Financial Co. (MFC) Given Average Rating of “Buy” by Brokerages

Shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) have received an average recommendation of “Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $29.00.

A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, January 2nd. National Bank Financial raised shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 24th. TD Securities raised shares of Manulife Financial from a “hold” rating to a “buy” rating in a report on Thursday. Scotiabank reissued a “buy” rating and issued a $31.00 price target on shares of Manulife Financial in a report on Wednesday, January 31st. Finally, Morgan Stanley lowered their price target on shares of Manulife Financial from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, February 22nd.

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NYSE MFC opened at $18.40 on Monday. The company has a market cap of $36,745.42, a PE ratio of 10.76, a PEG ratio of 0.95 and a beta of 1.34. Manulife Financial has a 1-year low of $16.62 and a 1-year high of $22.16.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The company had revenue of $12.79 billion during the quarter. Manulife Financial had a net margin of 3.50% and a return on equity of 11.49%. equities research analysts forecast that Manulife Financial will post 2.05 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 19th. Shareholders of record on Wednesday, February 21st were paid a $0.175 dividend. The ex-dividend date was 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 yield of 3.80%. Manulife Financial’s dividend payout ratio (DPR) is presently 40.94%.

A number of hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp boosted its stake in Manulife Financial by 270.1% in the fourth quarter. Mackenzie Financial Corp now owns 49,553,149 shares of the financial services provider’s stock valued at $1,033,679,000 after acquiring an additional 36,162,505 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Manulife Financial by 0.4% during the fourth quarter. CIBC Asset Management Inc now owns 22,573,094 shares of the financial services provider’s stock worth $472,829,000 after purchasing an additional 80,120 shares in the last quarter. Scotia Capital Inc. boosted its position in shares of Manulife Financial by 8.2% during the fourth quarter. Scotia Capital Inc. now owns 10,066,893 shares of the financial services provider’s stock worth $209,988,000 after purchasing an additional 764,012 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of Manulife Financial by 1.6% during the fourth quarter. APG Asset Management N.V. now owns 7,483,238 shares of the financial services provider’s stock worth $130,416,000 after purchasing an additional 118,000 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in shares of Manulife Financial by 11.1% during the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 5,805,500 shares of the financial services provider’s stock worth $152,220,000 after purchasing an additional 579,400 shares in the last quarter. 46.59% of the stock is currently owned by hedge funds and other institutional investors.

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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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