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

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) has earned a consensus rating of “Buy” from the six research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $45.50.

MFC has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price target on Manulife Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research note on Monday, February 3rd.

Manulife Financial Price Performance

Shares of Manulife Financial stock opened at $30.14 on Tuesday. The stock has a market cap of $51.91 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. The firm has a fifty day moving average price of $30.06 and a 200 day moving average price of $30.23. Manulife Financial has a 1 year low of $22.61 and a 1 year high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The business had revenue of $9.31 billion during the quarter. As a group, equities analysts expect that Manulife Financial will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.3094 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.11%. Manulife Financial’s dividend payout ratio (DPR) is 58.45%.

Hedge Funds Weigh In On Manulife Financial

A number of large investors have recently added to or reduced their stakes in MFC. Crews Bank & Trust acquired a new stake in shares of Manulife Financial in the fourth quarter valued at about $26,000. Brooklyn Investment Group purchased a new position in Manulife Financial in the 3rd quarter valued at about $26,000. Lee Danner & Bass Inc. acquired a new stake in Manulife Financial in the 4th quarter worth about $31,000. Stonebridge Financial Group LLC purchased a new stake in Manulife Financial during the 4th quarter worth approximately $34,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Manulife Financial during the fourth quarter valued at approximately $35,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

About Manulife Financial

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.