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

Shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) have received an average recommendation of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $45.50.

Separately, Royal Bank of Canada raised their price target on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group purchased a new position in shares of Manulife Financial during the third quarter worth $26,000. Crews Bank & Trust purchased a new position in shares of Manulife Financial during the fourth quarter worth $26,000. Capital Performance Advisors LLP purchased a new position in shares of Manulife Financial during the third quarter worth $30,000. Fortitude Family Office LLC purchased a new position in shares of Manulife Financial during the third quarter worth $31,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Manulife Financial during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Down 4.0 %

Shares of NYSE MFC traded down $1.28 during midday trading on Friday, reaching $30.54. 628,174 shares of the company’s stock traded hands, compared to its average volume of 2,008,802. The stock’s 50 day simple moving average is $30.33 and its 200-day simple moving average is $29.71. Manulife Financial has a one year low of $22.61 and a one year high of $33.07. The company has a market cap of $52.62 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.04 and a beta of 1.09.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.07. The company had revenue of $9.31 billion during the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 16.15%. Equities analysts predict that Manulife Financial will post 2.88 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.3094 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.05%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s dividend payout ratio (DPR) is currently 59.42%.

Manulife Financial Company Profile

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.