Brokerages Set Manulife Financial Co. (NYSE:MFC) Target Price at $29.00

Share on StockTwits

Shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) have received a consensus recommendation of “Buy” from the nine research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $29.14.

A number of equities research analysts have recently weighed in on MFC shares. Desjardins boosted their target price on Manulife Financial from $29.00 to $31.00 in a research report on Friday, November 8th. CIBC boosted their target price on Manulife Financial from $27.00 to $29.00 in a research report on Friday, November 8th. National Bank Financial boosted their target price on Manulife Financial from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Canaccord Genuity boosted their target price on Manulife Financial from $33.00 to $34.00 in a research report on Friday, November 8th. Finally, BMO Capital Markets boosted their target price on Manulife Financial from $32.00 to $33.00 in a research report on Friday, November 8th.

Several hedge funds have recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. grew its stake in shares of Manulife Financial by 3.6% during the third quarter. EdgePoint Investment Group Inc. now owns 32,915,815 shares of the financial services provider’s stock worth $603,755,000 after purchasing an additional 1,136,922 shares during the period. Lincluden Management Ltd. grew its stake in shares of Manulife Financial by 1.2% during the third quarter. Lincluden Management Ltd. now owns 1,780,179 shares of the financial services provider’s stock worth $32,651,000 after purchasing an additional 20,955 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Manulife Financial by 2.2% during the third quarter. Tower Research Capital LLC TRC now owns 34,232 shares of the financial services provider’s stock worth $628,000 after purchasing an additional 737 shares during the period. Barry Investment Advisors LLC grew its stake in shares of Manulife Financial by 0.4% during the third quarter. Barry Investment Advisors LLC now owns 230,384 shares of the financial services provider’s stock worth $4,230,000 after purchasing an additional 827 shares during the period. Finally, Bartlett & Co. LLC grew its stake in shares of Manulife Financial by 1.7% during the third quarter. Bartlett & Co. LLC now owns 47,635 shares of the financial services provider’s stock worth $875,000 after purchasing an additional 775 shares during the period. Institutional investors own 42.42% of the company’s stock.

MFC traded up $0.06 during trading on Tuesday, hitting $19.87. The company’s stock had a trading volume of 1,387,166 shares, compared to its average volume of 1,916,532. The firm’s 50 day moving average price is $18.58 and its two-hundred day moving average price is $17.90. Manulife Financial has a 12 month low of $13.33 and a 12 month high of $20.08. The stock has a market capitalization of $38.82 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.21. The firm had revenue of $17.14 billion during the quarter. Manulife Financial had a return on equity of 12.86% and a net margin of 6.45%. During the same quarter in the previous year, the firm posted $0.75 EPS. As a group, analysts predict that Manulife Financial will post 2.23 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, November 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.82%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.19. Manulife Financial’s payout ratio is presently 36.02%.

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; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.

Featured Article: How to Invest in the Dividend Aristocrat Index

Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

ZUM TOKEN Market Capitalization Hits $7,635.00
ZUM TOKEN Market Capitalization Hits $7,635.00
GreenPower  24 Hour Volume Hits $17,711.00
GreenPower 24 Hour Volume Hits $17,711.00
Zacks: Brokerages Anticipate Kaman Co.  to Post $0.79 Earnings Per Share
Zacks: Brokerages Anticipate Kaman Co. to Post $0.79 Earnings Per Share
CryptoAds Marketplace Hits Market Cap of $4,175.00
CryptoAds Marketplace Hits Market Cap of $4,175.00
Roche  Getting Neutral Press Coverage, Analysis Shows
Roche Getting Neutral Press Coverage, Analysis Shows
Brokerages Expect Zebra Technologies  Will Post Quarterly Sales of $1.20 Billion
Brokerages Expect Zebra Technologies Will Post Quarterly Sales of $1.20 Billion


© 2006-2019 Ticker Report