Manulife Financial (NYSE:MFC) Sets New 1-Year Low at $15.85

Shares of Manulife Financial Co. (NYSE:MFCGet Rating) (TSE:MFC) reached a new 52-week low on Friday . The company traded as low as $15.85 and last traded at $15.86, with a volume of 125445 shares changing hands. The stock had previously closed at $16.39.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MFC. National Bank Financial decreased their price target on shares of Manulife Financial from C$26.00 to C$25.00 in a research note on Tuesday, July 19th. Desjardins upped their target price on shares of Manulife Financial from C$24.00 to C$25.00 in a research report on Monday, August 15th. Finally, Scotiabank raised Manulife Financial from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $29.75.

Manulife Financial Trading Down 3.3 %

The company has a market capitalization of $30.22 billion, a PE ratio of 5.36, a PEG ratio of 0.67 and a beta of 1.16. The firm’s 50-day simple moving average is $17.80 and its 200-day simple moving average is $18.60.

Manulife Financial (NYSE:MFCGet Rating) (TSE:MFC) last issued its earnings results on Wednesday, August 10th. The financial services provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.14. During the same period in the prior year, the business earned $0.68 EPS. As a group, analysts anticipate that Manulife Financial Co. will post 2.51 EPS for the current year.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Tuesday, August 23rd were issued a dividend of $0.258 per share. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $1.03 dividend on an annualized basis and a yield of 6.51%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.26. Manulife Financial’s dividend payout ratio is currently 33.66%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Trust Co. of Vermont grew its position in Manulife Financial by 3.3% during the 1st quarter. Trust Co. of Vermont now owns 15,765 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 500 shares during the period. Resources Management Corp CT ADV boosted its holdings in shares of Manulife Financial by 1.2% during the 2nd quarter. Resources Management Corp CT ADV now owns 44,195 shares of the financial services provider’s stock worth $766,000 after purchasing an additional 538 shares during the last quarter. AdvisorNet Financial Inc increased its stake in shares of Manulife Financial by 9.8% in the 1st quarter. AdvisorNet Financial Inc now owns 6,104 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 543 shares during the last quarter. Metis Global Partners LLC raised its stake in Manulife Financial by 0.8% during the second quarter. Metis Global Partners LLC now owns 71,609 shares of the financial services provider’s stock worth $1,242,000 after purchasing an additional 588 shares during the period. Finally, Brinker Capital Investments LLC lifted its holdings in Manulife Financial by 5.3% in the first quarter. Brinker Capital Investments LLC now owns 12,449 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 624 shares during the last quarter. Institutional investors own 44.50% of the company’s stock.

About Manulife Financial

(Get Rating)

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; And Corporate and Other segments. The Wealth and Asset Management Businesses segment provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.

Further Reading

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