According to Zacks, “Manulife Financial remains focused on improving earnings in the second half of the year and aims minimum C$4 billion in core earnings in 2016. Manulife’s deep reach in the Asian market and a growing asset management business would drive long-term earnings growth. It also holds a significant market in Canada and the Standard Life Overseas Holdings takeover broadened its share in the region. Recently, the company unveiled a new Lab of Forward Thinking (LOFT) in Singapore to offer new technological solutions for the company’s wealth, asset management, and insurance customers. However, the company’s Financial’s soft results from the U.S. division and low interest rates continue to hurt the overall performance. Additionally, recent volatile global equity markets coupled with low bond yields has largely affected the company’s capital position.”
Other research analysts have also recently issued reports about the company. BMO Capital Markets set a $21.00 price target on Manulife Financial Corp. and gave the stock a buy rating in a report on Friday, August 5th. CIBC cut Manulife Financial Corp. from a sector outperform rating to a sector perform rating in a report on Thursday, August 4th. Macquarie cut Manulife Financial Corp. from an outperform rating to a neutral rating in a report on Thursday, August 4th. Canaccord Genuity reaffirmed a hold rating on shares of Manulife Financial Corp. in a report on Monday, June 13th. Finally, Scotiabank reaffirmed an outperform rating and set a $19.00 price objective (down from $20.00) on shares of Manulife Financial Corp. in a report on Wednesday, August 10th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of Buy and an average target price of $21.00.
Shares of Manulife Financial Corp. (NYSE:MFC) traded up 0.14% during mid-day trading on Wednesday, reaching $14.54. The company had a trading volume of 1,574,029 shares. The stock has a market capitalization of $28.69 billion, a price-to-earnings ratio of 15.24 and a beta of 1.56. The firm has a 50-day moving average price of $13.79 and a 200-day moving average price of $13.94. Manulife Financial Corp. has a 1-year low of $10.99 and a 1-year high of $17.17.
Manulife Financial Corp. (NYSE:MFC) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.40 EPS for the quarter, topping the Zacks’ 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 in the previous year, the firm posted $0.44 EPS. Equities analysts expect that Manulife Financial Corp. will post $1.34 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Tuesday, August 16th were issued a $0.141 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend was Friday, August 12th. Manulife Financial Corp.’s dividend payout ratio is 61.96%.
Several large investors have recently modified their holdings of MFC. Carnick & Kubik LLC purchased a new stake in shares of Manulife Financial Corp. during the first quarter valued at $102,000. BlackRock Institutional Trust Company N.A. purchased a new stake in shares of Manulife Financial Corp. during the first quarter valued at $107,000. Nikko Asset Management Americas Inc. purchased a new stake in shares of Manulife Financial Corp. during the first quarter valued at $184,000. Capital One National Association purchased a new stake in shares of Manulife Financial Corp. during the second quarter valued at $140,000. Finally, Davis Rea LTD. purchased a new stake in shares of Manulife Financial Corp. during the second quarter valued at $142,000. 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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