The Brokerages give average Rating of “Buy” to Manulife Financial Corp. (NYSE:MFC)

The Brokerages give average Rating of “Buy” to Manulife Financial Corp. (NYSE:MFC)

Manulife Financial Corp. (NYSE:MFC) has been assigned a consensus recommendation of “Buy” from the fourteen research firms that are presently covering the company. Five investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $21.43.

Several analysts recently commented on the company. Canaccord Genuity reaffirmed a “hold” rating on shares of Manulife Financial Corp. in a research note on Monday, June 13th. BMO Capital Markets set a $21.00 price target on Manulife Financial Corp. and gave the company a “buy” rating in a research note on Friday, August 5th. TD Securities reaffirmed a “hold” rating and issued a $19.00 price target on shares of Manulife Financial Corp. in a research note on Wednesday, August 10th. Macquarie lowered Manulife Financial Corp. from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 4th. Finally, Zacks Investment Research lowered Manulife Financial Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th.

Several institutional investors have recently made changes to their positions in MFC. Moors & Cabot Inc. increased its position in shares of Manulife Financial Corp. by 0.5% in the second quarter. Moors & Cabot Inc. now owns 34,014 shares of the company’s stock worth $463,000 after buying an additional 155 shares during the last quarter. Stifel Financial Corp increased its position in shares of Manulife Financial Corp. by 0.9% in the second quarter. Stifel Financial Corp now owns 42,691 shares of the company’s stock worth $584,000 after buying an additional 389 shares during the last quarter. Eaton Vance Management increased its position in shares of Manulife Financial Corp. by 0.6% in the second quarter. Eaton Vance Management now owns 69,578 shares of the company’s stock worth $951,000 after buying an additional 390 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Manulife Financial Corp. by 2.3% in the second quarter. Stratos Wealth Partners LTD. now owns 18,905 shares of the company’s stock worth $258,000 after buying an additional 426 shares during the last quarter. Finally, IFP Advisors Inc increased its position in shares of Manulife Financial Corp. by 2.7% in the first quarter. IFP Advisors Inc now owns 17,233 shares of the company’s stock worth $244,000 after buying an additional 452 shares during the last quarter. Hedge funds and other institutional investors own 49.50% of the company’s stock.

Shares of Manulife Financial Corp. (NYSE:MFC) traded down 0.83% on Friday, reaching $14.42. The company had a trading volume of 1,437,712 shares. The firm has a market cap of $28.45 billion, a P/E ratio of 15.05 and a beta of 1.56. Manulife Financial Corp. has a one year low of $10.99 and a one year high of $17.17. The company has a 50-day moving average price of $13.83 and a 200-day moving average price of $13.95.

Manulife Financial Corp. (NYSE:MFC) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.04. Manulife Financial Corp. had a return on equity of 8.97% and a net margin of 4.37%. During the same quarter last year, the firm posted $0.44 EPS. On average, analysts expect that Manulife Financial Corp. will post $1.34 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Tuesday, August 16th were paid a $0.141 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.88%. Manulife Financial Corp.’s payout ratio is presently 61.96%.

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