Analysts Set Manulife Financial Corp (NYSE:MFC) Price Target at $51.50

Shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) have received an average rating of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $51.50.

A number of equities research analysts have recently weighed in on MFC shares. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research report on Wednesday, July 15th. TD Securities restated a “buy” rating on shares of Manulife Financial in a report on Thursday, May 14th. Weiss Ratings lowered Manulife Financial from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, July 21st. Finally, Zacks Research downgraded shares of Manulife Financial from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 15th.

Hedge Funds Weigh In On Manulife Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hoge Financial Services LLC increased its stake in shares of Manulife Financial by 0.9% in the 4th quarter. Hoge Financial Services LLC now owns 31,975 shares of the financial services provider’s stock worth $1,160,000 after acquiring an additional 272 shares in the last quarter. Bridgewater Advisors Inc. boosted its stake in Manulife Financial by 3.3% during the first quarter. Bridgewater Advisors Inc. now owns 8,675 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 274 shares in the last quarter. Kathmere Capital Management LLC grew its holdings in Manulife Financial by 2.0% in the fourth quarter. Kathmere Capital Management LLC now owns 14,421 shares of the financial services provider’s stock worth $523,000 after purchasing an additional 277 shares during the period. Baron Wealth Management LLC grew its holdings in Manulife Financial by 2.4% in the second quarter. Baron Wealth Management LLC now owns 12,432 shares of the financial services provider’s stock worth $504,000 after purchasing an additional 291 shares during the period. Finally, Americana Partners LLC increased its stake in shares of Manulife Financial by 0.5% during the fourth quarter. Americana Partners LLC now owns 59,081 shares of the financial services provider’s stock valued at $2,143,000 after purchasing an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Performance

Shares of NYSE:MFC opened at $44.44 on Monday. The company has a 50-day moving average price of $40.91 and a 200-day moving average price of $38.21. The company has a market cap of $73.85 billion, a price-to-earnings ratio of 17.63 and a beta of 0.84. Manulife Financial has a 12 month low of $29.70 and a 12 month high of $44.89.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, May 13th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.02). The business had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $2.32 billion. Manulife Financial had a return on equity of 16.58% and a net margin of 10.19%.During the same period in the previous year, the business earned $0.99 earnings per share. As a group, research analysts forecast that Manulife Financial will post 3.03 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, May 29th were given a $0.485 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.94 annualized dividend and a dividend yield of 4.4%. Manulife Financial’s dividend payout ratio is currently 56.75%.

Manulife Financial Company Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.