Manulife Financial Corp (NYSE:MFC) Receives Consensus Recommendation of “Buy” from Analysts

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) has been assigned a consensus rating of “Buy” from the six analysts that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $51.50.

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of Manulife Financial in a report on Friday, February 13th. Weiss Ratings cut Manulife Financial from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, February 13th. BMO Capital Markets restated an “outperform” rating on shares of Manulife Financial in a research report on Friday, November 14th. Morgan Stanley set a $51.00 price objective on shares of Manulife Financial in a report on Monday, December 15th. Finally, Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research note on Thursday, February 5th.

Manulife Financial Stock Performance

NYSE:MFC opened at $35.85 on Friday. Manulife Financial has a one year low of $25.92 and a one year high of $38.72. The business’s 50-day simple moving average is $36.98 and its 200 day simple moving average is $34.06. The stock has a market cap of $60.11 billion, a price-to-earnings ratio of 16.15 and a beta of 0.83.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. The business had revenue of $11.32 billion for the quarter, compared to analyst estimates of $2.32 billion. Manulife Financial had a net margin of 9.18% and a return on equity of 16.43%. During the same quarter in the prior year, the business posted $1.03 EPS. On average, equities research analysts predict that Manulife Financial will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Wednesday, February 25th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.44. This represents a $1.94 annualized dividend and a dividend yield of 5.4%. Manulife Financial’s dividend payout ratio (DPR) is currently 63.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Hoge Financial Services LLC raised its position in shares of Manulife Financial by 0.9% during the fourth quarter. Hoge Financial Services LLC now owns 31,975 shares of the financial services provider’s stock worth $1,160,000 after purchasing an additional 272 shares during the period. Kathmere Capital Management LLC boosted its stake in Manulife Financial by 2.0% in the 4th quarter. Kathmere Capital Management LLC now owns 14,421 shares of the financial services provider’s stock worth $523,000 after purchasing an additional 277 shares during the period. Americana Partners LLC grew its position in Manulife Financial by 0.5% during the 4th quarter. Americana Partners LLC now owns 59,081 shares of the financial services provider’s stock worth $2,143,000 after purchasing an additional 295 shares in the last quarter. Bridges Investment Management Inc. grew its position in Manulife Financial by 2.0% during the 4th quarter. Bridges Investment Management Inc. now owns 16,037 shares of the financial services provider’s stock worth $582,000 after purchasing an additional 321 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Manulife Financial by 1.2% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,206 shares of the financial services provider’s stock valued at $987,000 after purchasing an additional 329 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.

About Manulife Financial

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.