Manulife Financial Co. (MFC) Sets New 1-Year High After Dividend Announcement
Manulife Financial Co. (NYSE:MFC) (TSE:MFC) reached a new 52-week high during trading on Thursday after the company announced a dividend. The company traded as high as $21.28 and last traded at $21.39, with a volume of 2781978 shares. The stock had previously closed at $20.67.
The newly announced dividend which will be paid on Tuesday, December 19th. Investors of record on Tuesday, November 21st will be issued a $0.1606 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Monday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is 45.83%.
A number of equities analysts recently issued reports on the company. ValuEngine lowered Manulife Financial from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. Morgan Stanley upped their target price on Manulife Financial from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Finally, Zacks Investment Research downgraded Manulife Financial from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $25.33.
The firm has a market capitalization of $41,980.00, a PE ratio of 12.38, a P/E/G ratio of 1.26 and a beta of 1.31.
Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Manulife Financial had a return on equity of 10.81% and a net margin of 10.53%. The company had revenue of $12.34 billion during the quarter, compared to the consensus estimate of $16.09 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. sell-side analysts forecast that Manulife Financial Co. will post 1.73 EPS for the current year.
Several large investors have recently made changes to their positions in MFC. Ropes Wealth Advisors LLC acquired a new stake in shares of Manulife Financial during the 2nd quarter valued at $103,000. D.A. Davidson & CO. lifted its position in shares of Manulife Financial by 17.5% during the 2nd quarter. D.A. Davidson & CO. now owns 6,768 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 1,010 shares during the last quarter. Sadoff Investment Management LLC acquired a new stake in shares of Manulife Financial during the 2nd quarter valued at $188,000. Northwestern Mutual Wealth Management Co. raised its stake in Manulife Financial by 25.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,284 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 2,103 shares during the period. Finally, YHB Investment Advisors Inc. acquired a new stake in Manulife Financial during the 2nd quarter valued at $202,000. Institutional investors own 46.10% of the company’s stock.
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About Manulife Financial
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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