Desjardins reaffirmed their buy rating on shares of Manulife Financial (NYSE:MFC) (TSE:MFC) in a research report sent to investors on Tuesday, October 16th. Desjardins also issued estimates for Manulife Financial’s Q3 2018 earnings at $0.50 EPS, FY2018 earnings at $1.98 EPS, FY2019 earnings at $2.16 EPS and FY2020 earnings at $2.31 EPS.
Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Manulife Financial from a hold rating to a buy rating and set a $20.00 target price on the stock in a research note on Friday, October 5th. Morgan Stanley lowered their target price on Manulife Financial from $27.00 to $26.00 and set an equal weight rating on the stock in a research note on Wednesday, July 11th. Evercore ISI assumed coverage on Manulife Financial in a research report on Tuesday, July 10th. They issued an in-line rating for the company. Finally, ValuEngine cut Manulife Financial from a hold rating to a sell rating in a research report on Monday, June 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $25.67.
Shares of MFC stock traded down $0.08 on Tuesday, reaching $16.90. 2,072,946 shares of the company’s stock traded hands, compared to its average volume of 3,725,719. Manulife Financial has a 12-month low of $14.99 and a 12-month high of $22.16. The company has a market capitalization of $32.47 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 0.81 and a beta of 1.31.
Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 7th. The financial services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.25. Manulife Financial had a return on equity of 12.69% and a net margin of 4.22%. The business had revenue of $6.15 billion for the quarter. During the same quarter in the prior year, the firm posted $0.53 EPS. On average, analysts anticipate that Manulife Financial will post 2.03 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Tuesday, November 20th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend is Monday, November 19th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.17. Manulife Financial’s payout ratio is currently 39.77%.
Several hedge funds and other institutional investors have recently bought and sold shares of MFC. A.R.T. Advisors LLC lifted its position in shares of Manulife Financial by 84.0% during the 1st quarter. A.R.T. Advisors LLC now owns 61,100 shares of the financial services provider’s stock worth $1,135,000 after purchasing an additional 27,900 shares during the last quarter. Element Capital Management LLC acquired a new position in Manulife Financial in the 1st quarter valued at approximately $319,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Manulife Financial by 25.7% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 36,007 shares of the financial services provider’s stock valued at $669,000 after acquiring an additional 7,358 shares in the last quarter. LPL Financial LLC raised its holdings in Manulife Financial by 11.1% in the 1st quarter. LPL Financial LLC now owns 56,575 shares of the financial services provider’s stock valued at $1,051,000 after acquiring an additional 5,645 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its holdings in Manulife Financial by 5.6% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 901,365 shares of the financial services provider’s stock valued at $16,747,000 after acquiring an additional 47,887 shares in the last quarter. 46.21% of the stock is owned by institutional investors and hedge funds.
About Manulife Financial
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance through insurance agents, brokers, banks, financial planners, and direct marketing.
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