Brokerages Set Manulife Financial Co. (NYSE:MFC) PT at $37.50

Shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) have received a consensus rating of “Buy” from the eight brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $37.50.

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

Manulife Financial Trading Down 0.3 %

Shares of NYSE:MFC opened at $32.19 on Monday. Manulife Financial has a 12-month low of $18.91 and a 12-month high of $33.07. The company has a market capitalization of $56.39 billion, a PE ratio of 15.55, a PEG ratio of 1.19 and a beta of 1.08. The business has a 50 day moving average of $30.20 and a two-hundred day moving average of $27.58.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The company had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same period in the previous year, the company posted $0.69 earnings per share. Equities research analysts predict that Manulife Financial will post 2.74 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be given a dividend of $0.296 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.68%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial’s payout ratio is presently 56.04%.

Institutional Trading of Manulife Financial

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Manulife Financial in the 1st quarter valued at $142,000. Avantax Advisory Services Inc. purchased a new stake in Manulife Financial in the 1st quarter valued at $244,000. Kingsview Wealth Management LLC purchased a new stake in Manulife Financial in the 1st quarter valued at $402,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Manulife Financial by 0.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 882,886 shares of the financial services provider’s stock valued at $21,762,000 after buying an additional 7,300 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Manulife Financial in the 1st quarter valued at $1,705,000. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

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.