Other analysts have also issued reports about the company. BMO Capital Markets set a $21.00 target price on Manulife Financial Corp. and gave the company a buy rating in a research note on Friday, August 5th. CIBC lowered Manulife Financial Corp. from a sector outperform rating to a sector perform rating in a research note on Thursday, August 4th. Macquarie lowered Manulife Financial Corp. from an outperform rating to a neutral rating in a research note on Thursday, August 4th. Zacks Investment Research lowered Manulife Financial Corp. from a buy rating to a hold rating in a research note on Tuesday, July 19th. Finally, Canaccord Genuity reiterated a hold rating on shares of Manulife Financial Corp. in a research note on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $21.00.
Manulife Financial Corp. (NYSE:MFC) traded up 1.9823% during mid-day trading on Wednesday, reaching $14.4101. The company had a trading volume of 562,045 shares. Manulife Financial Corp. has a 12-month low of $10.99 and a 12-month high of $17.17. The stock has a market capitalization of $28.43 billion, a P/E ratio of 15.0576 and a beta of 1.63. The stock has a 50 day moving average price of $13.57 and a 200-day moving average price of $13.94.
Manulife Financial Corp. (NYSE:MFC) last issued its earnings results on Thursday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04. Manulife Financial Corp. had a return on equity of 8.97% and a net margin of 4.37%. During the same period last year, the firm earned $0.44 EPS. Equities analysts anticipate that Manulife Financial Corp. will post $1.34 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Tuesday, August 16th were paid a $0.141 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $0.56 dividend on an annualized basis and a yield of 3.99%. Manulife Financial Corp.’s dividend payout ratio is currently 61.96%.
Institutional investors have recently made changes to their positions in the company. Moors & Cabot Inc. raised its position in shares of Manulife Financial Corp. by 0.5% in the second quarter. Moors & Cabot Inc. now owns 34,014 shares of the company’s stock worth $463,000 after buying an additional 155 shares in the last quarter. Stifel Financial Corp boosted its position in Manulife Financial Corp. by 0.9% in the second quarter. Stifel Financial Corp now owns 42,691 shares of the company’s stock worth $584,000 after buying an additional 389 shares during the last quarter. Eaton Vance Management boosted its position in Manulife Financial Corp. by 0.6% in the second quarter. Eaton Vance Management now owns 69,578 shares of the company’s stock worth $951,000 after buying an additional 390 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in Manulife Financial Corp. by 2.3% in the second quarter. Stratos Wealth Partners LTD. now owns 18,905 shares of the company’s stock worth $258,000 after buying an additional 426 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in Manulife Financial Corp. by 2.7% in the first quarter. IFP Advisors Inc now owns 17,233 shares of the company’s stock worth $244,000 after buying an additional 452 shares during the last quarter. Institutional investors and hedge funds own 49.50% of the company’s stock.
Manulife Financial Corp. Company Profile
Manulife Financial Corporation (MFC) is a life insurance company. The Company is a holding company of The Manufacturers Life Insurance Company (MLI), a Canadian life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), a Bermuda reinsurance company. The Company’s segments, including Asia Division, Canadian Division, U.S.
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