Manulife Financial (MFC) Price Target Lowered to $27.00 at Morgan Stanley

Manulife Financial (NYSE:MFC) (TSE:MFC) had its price objective trimmed by Morgan Stanley from $28.00 to $27.00 in a report released on Thursday. The firm currently has an equal weight rating on the financial services provider’s stock.

Several other equities analysts also recently commented on MFC. Zacks Investment Research downgraded Manulife Financial from a buy rating to a hold rating in a research note on Friday, February 2nd. ValuEngine upgraded Manulife Financial from a hold rating to a buy rating in a research note on Wednesday, March 7th. Scotiabank reiterated a buy rating and issued a $31.00 price objective on shares of Manulife Financial in a research note on Wednesday, January 31st. Finally, National Bank Financial upgraded Manulife Financial from a sector perform rating to an outperform rating in a research note on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Manulife Financial currently has an average rating of Buy and a consensus price target of $26.67.

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Manulife Financial stock opened at $18.21 on Thursday. Manulife Financial has a 12 month low of $16.62 and a 12 month high of $22.16. The company has a market capitalization of $36,110.85, a P/E ratio of 10.59, a PEG ratio of 0.93 and a beta of 1.34.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). Manulife Financial had a net margin of 3.50% and a return on equity of 11.49%. The firm had revenue of $12.79 billion during the quarter. equities analysts expect that Manulife Financial will post 2.07 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, March 19th. Shareholders of record on Wednesday, February 21st were given a dividend of $0.175 per share. The ex-dividend date was Tuesday, February 20th. This represents a $0.70 annualized dividend and a dividend yield of 3.84%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.16. Manulife Financial’s dividend payout ratio is currently 40.94%.

Large investors have recently bought and sold shares of the business. Elkfork Partners LLC purchased a new stake in shares of Manulife Financial during the fourth quarter worth $138,000. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Manulife Financial during the fourth quarter worth $203,000. ProVise Management Group LLC purchased a new stake in shares of Manulife Financial during the fourth quarter worth $204,000. Lourd Capital LLC purchased a new stake in shares of Manulife Financial during the fourth quarter worth $209,000. Finally, Squar Milner Financial Services LLC purchased a new stake in shares of Manulife Financial during the fourth quarter worth $212,000. Hedge funds and other institutional investors own 46.58% 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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