Manulife Financial Co. (NYSE:MFC) Given Average Recommendation of “Buy” by Analysts

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) has earned a consensus recommendation of “Buy” from the eight analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $35.67.

MFC has been the subject of a number of research reports. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays initiated coverage on shares of Manulife Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company.

Hedge Funds Weigh In On Manulife Financial

A number of large investors have recently added to or reduced their stakes in the company. Grove Bank & Trust acquired a new position in shares of Manulife Financial during the second quarter valued at about $25,000. West Financial Advisors LLC acquired a new position in shares of Manulife Financial during the third quarter valued at about $26,000. Addison Advisors LLC increased its holdings in shares of Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 467 shares in the last quarter. HHM Wealth Advisors LLC increased its holdings in shares of Manulife Financial by 119.0% during the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 600 shares in the last quarter. Finally, Sachetta LLC increased its holdings in shares of Manulife Financial by 209.5% during the second quarter. Sachetta LLC now owns 1,170 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 792 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Price Performance

NYSE:MFC opened at $29.97 on Thursday. Manulife Financial has a 1-year low of $17.31 and a 1-year high of $30.86. The company has a 50-day moving average of $28.92 and a 200 day moving average of $26.72. The firm has a market cap of $53.63 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 1.10 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.27. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. The company had revenue of $9.41 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same period in the prior year, the firm earned $0.62 earnings per share. Sell-side analysts anticipate that Manulife Financial will post 2.74 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were issued a $0.29 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $1.16 dividend on an annualized basis and a yield of 3.87%. Manulife Financial’s dividend payout ratio is presently 66.86%.

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.