Manulife Financial Co. (NYSE:MFC) Receives $45.50 Consensus Target Price from Analysts

Shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) have been assigned an average rating of “Buy” from the six analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $45.50.

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

Institutional Investors Weigh In On Manulife Financial

Institutional investors have recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in shares of Manulife Financial during the third quarter worth approximately $26,000. Crews Bank & Trust purchased a new stake in shares of Manulife Financial during the fourth quarter worth $26,000. Lee Danner & Bass Inc. purchased a new stake in shares of Manulife Financial during the fourth quarter worth $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Manulife Financial in the fourth quarter worth about $34,000. Finally, Golden State Wealth Management LLC acquired a new position in Manulife Financial during the fourth quarter worth about $35,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Price Performance

Shares of MFC opened at $30.45 on Tuesday. The firm has a market capitalization of $52.45 billion, a P/E ratio of 14.71, a PEG ratio of 1.11 and a beta of 1.05. Manulife Financial has a one year low of $22.61 and a one year high of $33.07. The business has a fifty day moving average of $30.05 and a 200 day moving average of $30.29.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The firm had revenue of $9.31 billion for the quarter. Analysts expect that Manulife Financial will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.3094 per share. This represents a $1.24 annualized dividend and a dividend yield of 4.06%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, March 5th. Manulife Financial’s payout ratio is 58.45%.

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.