Manulife Financial (NYSE:MFC) Announces Earnings Results

Manulife Financial (NYSE:MFC) (TSE:MFC) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04, Zacks reports. Manulife Financial had a net margin of 9.18% and a return on equity of 16.44%. During the same period last year, the business posted $1.03 earnings per share.

Manulife Financial Trading Up 1.3%

Shares of NYSE MFC opened at $36.28 on Friday. Manulife Financial has a 1-year low of $25.92 and a 1-year high of $38.72. The company has a 50-day moving average of $36.82 and a two-hundred day moving average of $33.68. The company has a market cap of $60.83 billion, a PE ratio of 16.36 and a beta of 0.83.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Wednesday, February 25th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 5.3%. The ex-dividend date is Wednesday, February 25th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.44. Manulife Financial’s dividend payout ratio is 55.56%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Brighton Jones LLC grew its position in shares of Manulife Financial by 33.9% in the fourth quarter. Brighton Jones LLC now owns 9,393 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 2,376 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Manulife Financial by 13.1% in the second quarter. Sivia Capital Partners LLC now owns 7,843 shares of the financial services provider’s stock worth $251,000 after acquiring an additional 909 shares during the last quarter. Eisler Capital Management Ltd. bought a new position in shares of Manulife Financial in the 3rd quarter valued at $232,000. Modern Wealth Management LLC bought a new position in Manulife Financial in the second quarter valued at about $227,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Manulife Financial in the second quarter valued at approximately $227,000. Institutional investors own 52.56% of the company’s stock.

Analyst Ratings Changes

MFC has been the topic of a number of research reports. Royal Bank Of Canada upped their price target on shares of Manulife Financial from $49.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, November 14th. UBS Group began coverage on Manulife Financial in a report on Thursday, October 16th. They set a “buy” rating on the stock. Weiss Ratings raised shares of Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, January 29th. Canadian Imperial Bank of Commerce upgraded shares of Manulife Financial from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 8th. Finally, Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research report on Thursday, February 5th. Two research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $51.50.

About Manulife Financial

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.