Manulife Financial Corp. (NYSE:MFC) traded down 4.9% during mid-day trading on Thursday . The company traded as low as $12.94 and last traded at $13.07, with a volume of 2,540,909 shares changing hands. The stock had previously closed at $13.75.

A number of equities research analysts have issued reports on the stock. BMO Capital Markets set a $21.00 price objective on shares of Manulife Financial Corp. and gave the company a “buy” rating in a report on Friday. Canaccord Genuity reaffirmed a “hold” rating on shares of Manulife Financial Corp. in a report on Friday, May 13th. CIBC lowered shares of Manulife Financial Corp. from a “sector outperform” rating to a “sector perform” rating in a report on Thursday. Macquarie lowered shares of Manulife Financial Corp. from an “outperform” rating to a “neutral” rating in a report on Thursday. Finally, Zacks Investment Research lowered shares of Manulife Financial Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Manulife Financial Corp. has a consensus rating of “Buy” and a consensus target price of $21.19.

The stock has a 50 day moving average price of $13.58 and a 200 day moving average price of $13.80. The company has a market capitalization of $25.78 billion and a P/E ratio of 14.30.

Manulife Financial Corp. (NYSE:MFC) last posted its earnings results on Thursday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.04. During the same period last year, the business posted $0.44 EPS. Analysts anticipate that Manulife Financial Corp. will post $1.43 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 19th. Investors of record on Tuesday, August 16th will be paid a dividend of $0.141 per share. This represents a $0.56 annualized dividend and a yield of 4.31%. The ex-dividend date is Friday, August 12th.

Other institutional investors have recently bought and sold shares of the company. I.G. Investment Management LTD. raised its position in Manulife Financial Corp. by 0.4% in the fourth quarter. I.G. Investment Management LTD. now owns 50,568,231 shares of the company’s stock valued at $758,345,000 after buying an additional 180,351 shares during the last quarter. Vanguard Group Inc. raised its stake in Manulife Financial Corp. by 7.9% in the fourth quarter. Vanguard Group Inc. now owns 27,997,795 shares of the company’s stock worth $419,407,000 after buying an additional 2,046,734 shares in the last quarter. Wells Fargo & Company MN raised its stake in Manulife Financial Corp. by 266.0% in the fourth quarter. Wells Fargo & Company MN now owns 4,994,851 shares of the company’s stock worth $74,823,000 after buying an additional 3,630,320 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. raised its stake in Manulife Financial Corp. by 2.6% in the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 4,697,335 shares of the company’s stock worth $70,134,000 after buying an additional 120,335 shares in the last quarter. Finally, Flippin Bruce & Porter Inc. raised its stake in Manulife Financial Corp. by 2.4% in the fourth quarter. Flippin Bruce & Porter Inc. now owns 119,375 shares of the company’s stock worth $1,788,000 after buying an additional 2,800 shares in the last quarter.

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.

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