Manulife Financial (MFC) Lifted to Buy at TD Securities

TD Securities upgraded shares of Manulife Financial (NYSE:MFC) (TSE:MFC) from a hold rating to a buy rating in a research note released on Thursday morning, Marketbeat reports.

Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Manulife Financial from a buy rating to a hold rating in a research report on Friday, February 2nd. Morgan Stanley cut their price target on shares of Manulife Financial from $28.00 to $27.00 and set an equal weight rating for the company in a research report on Thursday, April 5th. 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. ValuEngine upgraded shares of Manulife Financial from a hold rating to a buy rating in a research report on Wednesday, March 7th. Finally, Scotiabank restated a buy rating and set a $31.00 price target on shares of Manulife Financial in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $26.67.

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NYSE MFC opened at $18.40 on Thursday. Manulife Financial has a 12-month low of $16.62 and a 12-month high of $22.16. The stock has a market cap of $36,745.42, a price-to-earnings ratio of 10.76, a price-to-earnings-growth ratio of 0.95 and a beta of 1.34.

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

The company also recently announced a quarterly dividend, which was paid on Monday, March 19th. Stockholders of record on Wednesday, February 21st were issued a dividend of $0.175 per share. This is a positive change 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 3.80%. The ex-dividend date was Tuesday, February 20th. Manulife Financial’s dividend payout ratio is currently 40.94%.

Institutional investors have recently bought and sold shares of the company. Elkfork Partners LLC purchased a new stake in shares of Manulife Financial during the fourth quarter worth about $138,000. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Manulife Financial during the fourth quarter worth about $203,000. ProVise Management Group LLC purchased a new stake in shares of Manulife Financial during the fourth quarter worth about $204,000. Lourd Capital LLC purchased a new stake in shares of Manulife Financial during the fourth quarter worth about $209,000. Finally, Squar Milner Financial Services LLC purchased a new stake in shares of Manulife Financial during the fourth quarter worth about $212,000. Institutional investors own 46.59% of the company’s stock.

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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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