Manulife Financial Corp. Plans Quarterly Dividend of $0.14 (MFC)
Manulife Financial Corp. (NYSE:MFC) declared a quarterly dividend on Thursday, November 10th. Investors of record on Tuesday, November 22nd will be given a dividend of 0.138 per share on Monday, December 19th. This represents a $0.55 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Friday, November 18th.
Manulife Financial Corp. (NYSE:MFC) opened at 16.25 on Friday. The company has a market capitalization of $32.06 billion, a P/E ratio of 17.27 and a beta of 1.51. The company has a 50-day moving average of $14.46 and a 200-day moving average of $14.04. Manulife Financial Corp. has a 1-year low of $10.99 and a 1-year high of $16.95.
Manulife Financial Corp. (NYSE:MFC) last announced its quarterly earnings results on Thursday, November 10th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.15. Manulife Financial Corp. had a net margin of 4.37% and a return on equity of 8.97%. During the same period in the prior year, the company posted $0.43 EPS. Equities analysts expect that Manulife Financial Corp. will post $1.31 EPS for the current fiscal year.
MFC has been the subject of a number of recent research reports. BMO Capital Markets set a $21.00 price objective on shares of Manulife Financial Corp. and gave the stock a “buy” rating in a research note on Friday, August 5th. Scotiabank reissued an “outperform” rating and issued a $22.00 price objective (up from $19.00) on shares of Manulife Financial Corp. in a research note on Tuesday. TD Securities reissued a “hold” rating and issued a $19.00 price objective on shares of Manulife Financial Corp. in a research note on Wednesday, August 10th. Macquarie cut shares of Manulife Financial Corp. from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 4th. Finally, Zacks Investment Research cut shares of Manulife Financial Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $21.86.
Large investors have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its stake in Manulife Financial Corp. by 25.9% in the third quarter. Northern Trust Corp now owns 1,737,224 shares of the company’s stock valued at $24,511,000 after buying an additional 357,045 shares during the period. Ameriprise Financial Inc. boosted its stake in Manulife Financial Corp. by 3.8% in the third quarter. Ameriprise Financial Inc. now owns 172,919 shares of the company’s stock valued at $2,441,000 after buying an additional 6,346 shares during the period. Highbridge Capital Management LLC bought a new stake in Manulife Financial Corp. during the second quarter valued at about $1,039,000. Cubist Systematic Strategies LLC boosted its stake in Manulife Financial Corp. by 62.5% in the second quarter. Cubist Systematic Strategies LLC now owns 33,953 shares of the company’s stock valued at $463,000 after buying an additional 13,064 shares during the period. Finally, A.R.T. Advisors LLC bought a new stake in Manulife Financial Corp. during the second quarter valued at about $2,844,000. 49.14% of the stock is owned by institutional investors.
Manulife Financial Corp. Company Profile
Manulife Financial Corporation (MFC) is a life insurance company. The Company is a holding company of The Manufacturers Life Insurance Company (MLI), a Canadian life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), a Bermuda reinsurance company. The Company’s segments, including Asia Division, Canadian Division, U.S.
Receive News & Stock Ratings for Manulife Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial Corp. and related stocks with our FREE daily email newsletter.