Manulife Financial (NYSE:MFC – Free Report) (TSE:MFC) had its price objective lowered by Royal Bank Of Canada from $51.00 to $49.00 in a research report released on Friday,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.
Separately, Morgan Stanley set a $46.00 target price on shares of Manulife Financial in a report on Monday, May 19th.
View Our Latest Stock Analysis on Manulife Financial
Manulife Financial Price Performance
Manulife Financial (NYSE:MFC – Get Free Report) (TSE:MFC) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.02). The firm had revenue of $11.30 billion during the quarter. Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%. During the same quarter in the previous year, the business posted $0.91 EPS. Sell-side analysts expect that Manulife Financial will post 2.87 EPS for the current fiscal year.
Manulife Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Wednesday, August 20th will be issued a dividend of $0.3199 per share. The ex-dividend date is Wednesday, August 20th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.3%. Manulife Financial’s dividend payout ratio (DPR) is 57.14%.
Institutional Investors Weigh In On Manulife Financial
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Eastern Bank raised its holdings in shares of Manulife Financial by 156.1% during the second quarter. Eastern Bank now owns 968 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 590 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Manulife Financial during the fourth quarter worth $35,000. Transce3nd LLC acquired a new stake in shares of Manulife Financial during the fourth quarter worth $42,000. William B. Walkup & Associates Inc. acquired a new stake in shares of Manulife Financial during the first quarter worth $43,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Manulife Financial during the second quarter worth $55,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.
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.
See Also
- Five stocks we like better than Manulife Financial
- Which Wall Street Analysts are the Most Accurate?
- 3 Dividend Stocks Raising Payouts—and Backing It Up With Results
- Why Are These Companies Considered Blue Chips?
- 3 Stocks With Monopoly Power—and Minimal Competition
- With Risk Tolerance, One Size Does Not Fit All
- Rocket Lab Reports Q2 Results: Is the Bull Thesis Still Intact?
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.