Manulife Financial (TSE:MFC) Issues Earnings Results

Manulife Financial (TSE:MFC) (NYSE:MFC) announced its quarterly earnings results on Wednesday. The financial services provider reported C$1.02 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$43.35 billion for the quarter. Manulife Financial had a return on equity of 11.75% and a net margin of 12.52%.

Manulife Financial Price Performance

Shares of MFC stock opened at C$48.30 on Friday. The stock’s 50 day simple moving average is C$44.69 and its two-hundred day simple moving average is C$43.44. The company has a market cap of C$81.62 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.01 and a beta of 0.94. Manulife Financial has a 1 year low of C$36.93 and a 1 year high of C$49.82.

Manulife Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 19th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $1.76 dividend on an annualized basis and a yield of 3.6%. Manulife Financial’s dividend payout ratio is presently 54.19%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MFC. Barclays increased their price objective on shares of Manulife Financial from C$47.00 to C$48.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada cut their price target on Manulife Financial from C$51.00 to C$49.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. TD Securities boosted their price objective on Manulife Financial from C$54.00 to C$57.00 in a research note on Thursday. National Bankshares boosted their price target on shares of Manulife Financial from C$47.00 to C$52.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Finally, UBS Group raised Manulife Financial to a “strong-buy” rating in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Manulife Financial presently has an average rating of “Moderate Buy” and a consensus price target of C$50.11.

About Manulife Financial

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada’s Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.