Manulife Financial Co. (NYSE:MFC) (TSE:MFC) – Stock analysts at Desjardins upped their FY2020 earnings estimates for Manulife Financial in a research report issued on Thursday, November 7th, Zacks Investment Research reports. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings of $2.55 per share for the year, up from their prior forecast of $2.39.
Other equities analysts have also issued reports about the stock. ValuEngine raised shares of Manulife Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 30th. Canaccord Genuity lifted their price target on shares of Manulife Financial from $32.00 to $33.00 in a report on Monday, October 28th. Finally, Zacks Investment Research lowered shares of Manulife Financial from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a report on Friday, November 29th.
MFC stock traded up $0.01 during trading on Monday, hitting $19.13. 1,752,091 shares of the company’s stock traded hands, compared to its average volume of 1,897,839. The firm has a market capitalization of $38.35 billion, a P/E ratio of 9.07, a PEG ratio of 0.88 and a beta of 1.43. The business has a fifty day simple moving average of $19.22 and a two-hundred day simple moving average of $18.04. Manulife Financial has a 1 year low of $13.33 and a 1 year high of $20.08.
Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.76 earnings per share 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 net margin of 6.45% and a return on equity of 12.86%. During the same period in the prior year, the firm posted $0.75 EPS.
Several institutional investors have recently modified their holdings of the business. Enterprise Trust & Investment Co acquired a new position in Manulife Financial during the second quarter worth about $25,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Manulife Financial in the second quarter valued at approximately $30,000. Cullen Frost Bankers Inc. grew its holdings in Manulife Financial by 72.7% in the second quarter. Cullen Frost Bankers Inc. now owns 1,900 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 800 shares during the period. Compagnie Lombard Odier SCmA purchased a new stake in Manulife Financial in the second quarter valued at approximately $38,000. Finally, Manchester Financial Inc. purchased a new stake in Manulife Financial in the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 46.70% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be given a $0.19 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.97%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.19. Manulife Financial’s dividend payout ratio is 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.
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