Manulife Financial Co. (NYSE:MFC) Announces Quarterly Dividend of $0.26

Manulife Financial Co. (NYSE:MFCGet Rating) (TSE:MFC) announced a quarterly dividend on Wednesday, May 11th, Zacks reports. Stockholders of record on Wednesday, May 25th will be given a dividend of 0.257 per share by the financial services provider on Monday, June 20th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date of this dividend is Tuesday, May 24th.

Manulife Financial has increased its dividend by an average of 9.9% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Manulife Financial has a dividend payout ratio of 34.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Manulife Financial to earn $2.90 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 35.9%.

Manulife Financial stock opened at $16.76 on Friday. The stock has a market capitalization of $32.33 billion, a price-to-earnings ratio of 4.51, a PEG ratio of 0.69 and a beta of 1.22. Manulife Financial has a 1-year low of $16.63 and a 1-year high of $22.19. The business has a fifty day moving average price of $20.35 and a 200-day moving average price of $20.01.

Manulife Financial (NYSE:MFCGet Rating) (TSE:MFC) last posted its quarterly earnings data on Wednesday, February 9th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. The business had revenue of $17.14 billion during the quarter. During the same period last year, the firm earned $0.57 earnings per share. As a group, equities research analysts forecast that Manulife Financial will post 2.75 EPS for the current year.

A number of equities analysts recently issued reports on MFC shares. Zacks Investment Research restated a “hold” rating on shares of Manulife Financial in a research note on Thursday, March 17th. Desjardins cut Manulife Financial from a “buy” rating to a “hold” rating in a research report on Friday. Barclays initiated coverage on Manulife Financial in a report on Thursday, February 3rd. They issued an “overweight” rating and a $36.00 price objective on the stock. TD Securities lowered their price objective on Manulife Financial from C$37.00 to C$34.00 in a report on Thursday. Finally, BMO Capital Markets cut Manulife Financial from an “outperform” rating to a “market perform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Manulife Financial currently has an average rating of “Hold” and an average price target of $29.90.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Trust N.A. boosted its stake in Manulife Financial by 7.9% in the first quarter. Raymond James Trust N.A. now owns 27,503 shares of the financial services provider’s stock valued at $587,000 after acquiring an additional 2,013 shares in the last quarter. BlackRock Inc. boosted its stake in Manulife Financial by 10.1% in the first quarter. BlackRock Inc. now owns 878,359 shares of the financial services provider’s stock valued at $18,753,000 after acquiring an additional 80,450 shares in the last quarter. Vident Investment Advisory LLC boosted its stake in Manulife Financial by 21.2% in the fourth quarter. Vident Investment Advisory LLC now owns 33,313 shares of the financial services provider’s stock valued at $636,000 after acquiring an additional 5,833 shares in the last quarter. Virtu Financial LLC acquired a new position in Manulife Financial in the fourth quarter valued at $252,000. Finally, Allianz Asset Management GmbH boosted its stake in Manulife Financial by 60.4% in the fourth quarter. Allianz Asset Management GmbH now owns 5,902,069 shares of the financial services provider’s stock valued at $112,651,000 after acquiring an additional 2,222,293 shares in the last quarter. Institutional investors own 47.04% of the company’s stock.

About Manulife Financial (Get Rating)

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.

Further Reading

Dividend History for Manulife Financial (NYSE:MFC)

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