Analysts Set Manulife Financial Co. (NYSE:MFC) PT at $35.67

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) has received an average recommendation of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $35.67.

Several equities analysts recently weighed in on MFC shares. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Barclays started coverage on shares of Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating on the stock.

Institutional Investors Weigh In On Manulife Financial

Hedge funds have recently bought and sold shares of the stock. West Financial Advisors LLC purchased a new stake in Manulife Financial in the 3rd quarter worth approximately $26,000. Grove Bank & Trust purchased a new position in shares of Manulife Financial during the 2nd quarter valued at approximately $25,000. Fortitude Family Office LLC purchased a new position in shares of Manulife Financial during the 3rd quarter valued at approximately $31,000. Addison Advisors LLC lifted its position in shares of Manulife Financial by 77.2% during the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after buying an additional 467 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in shares of Manulife Financial by 119.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider’s stock valued at $29,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Manulife Financial Trading Down 0.3 %

Shares of NYSE:MFC opened at $29.97 on Thursday. Manulife Financial has a twelve month low of $17.31 and a twelve month high of $30.86. The company’s 50 day moving average is $28.92 and its 200 day moving average is $26.72. The company has a market cap of $53.63 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 1.10 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.27. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. The company had revenue of $9.41 billion for the quarter, compared to the consensus estimate of $8.95 billion. During the same quarter in the prior year, the company earned $0.62 EPS. Equities research analysts predict that Manulife Financial will post 2.74 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st were given a $0.29 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $1.16 annualized dividend and a yield of 3.87%. Manulife Financial’s dividend payout ratio is presently 66.86%.

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.