Manulife Financial (MFC) Rating Reiterated by TD Securities

TD Securities restated their buy rating on shares of Manulife Financial (NYSE:MFC) (TSE:MFC) in a research report report published on Thursday morning.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Manulife Financial from a sell rating to a hold rating in a research report on Friday, August 10th. Morgan Stanley dropped their target price on shares of Manulife Financial from $27.00 to $26.00 and set an equal weight rating for the company in a research report on Wednesday, July 11th. ValuEngine downgraded shares of Manulife Financial from a sell rating to a strong sell rating in a research report on Thursday, August 2nd. Desjardins reissued a buy rating on shares of Manulife Financial in a research report on Tuesday, October 16th. Finally, TheStreet downgraded shares of Manulife Financial from a b- rating to a c+ rating in a research report on Monday, October 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $25.67.

Shares of MFC traded down $0.08 during midday trading on Thursday, hitting $16.90. The company had a trading volume of 2,072,946 shares, compared to its average volume of 2,533,293. The company has a market capitalization of $32.65 billion, a P/E ratio of 9.88, a PEG ratio of 0.81 and a beta of 1.31. Manulife Financial has a 52 week low of $14.99 and a 52 week high of $22.16.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, November 7th. The financial services provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.25. The company had revenue of $6.15 billion during the quarter. Manulife Financial had a net margin of 4.22% and a return on equity of 12.69%. During the same period in the previous year, the firm posted $0.53 EPS. As a group, sell-side analysts expect that Manulife Financial will post 2.03 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Tuesday, November 20th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date is Monday, November 19th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.17. Manulife Financial’s dividend payout ratio is currently 39.77%.

Several large investors have recently made changes to their positions in the stock. Letko Brosseau & Associates Inc. grew its position in shares of Manulife Financial by 1.3% during the 3rd quarter. Letko Brosseau & Associates Inc. now owns 19,474,371 shares of the financial services provider’s stock valued at $347,875,000 after buying an additional 242,475 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Manulife Financial by 3.3% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,701,545 shares of the financial services provider’s stock valued at $317,846,000 after buying an additional 566,117 shares during the last quarter. Bank of Nova Scotia grew its position in shares of Manulife Financial by 3.9% during the 2nd quarter. Bank of Nova Scotia now owns 14,379,238 shares of the financial services provider’s stock valued at $258,275,000 after buying an additional 537,871 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Manulife Financial by 123.4% during the 2nd quarter. Toronto Dominion Bank now owns 11,548,947 shares of the financial services provider’s stock valued at $210,529,000 after buying an additional 6,379,595 shares during the last quarter. Finally, Mawer Investment Management Ltd. grew its position in shares of Manulife Financial by 4.9% during the 2nd quarter. Mawer Investment Management Ltd. now owns 11,126,552 shares of the financial services provider’s stock valued at $200,071,000 after buying an additional 524,066 shares during the last quarter. 46.21% of the stock is owned by institutional investors and hedge funds.

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 through insurance agents, brokers, banks, financial planners, and direct marketing.

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Analyst Recommendations for Manulife Financial (NYSE:MFC)

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