Manulife Financial Company (NYSE:MFC) Issues Quarterly Dividend of $0.27

Financial Advisors


Manulife Financial Co., Ltd. (NYSE:MFC – Rated) (TSE:MFC) announced its quarterly dividend on Wednesday, May 10, Sachs reports. The shareholder of record on Wednesday, May 24 will receive a dividend of 0.269 per share from the financial services provider on Monday, June 19. This equates to an annualized dividend of $1.08 and a yield of 5.57%. The ex-dividend date is Tuesday, May 23.

Manulife Financial has increased its dividend by an average of 10.8% annually over the past three years, and has increased its dividend each year for the past year. Manulife Financial’s dividend payout ratio is 40.9%, which is well covered by earnings. Equity analysts expect Manulife Financial to post earnings of $2.59 a share next year. That means the company should still be able to cover its annual dividend of $1.08 with a projected future payout ratio of 41.7%.

Manulife Financial Stock Performance

NYSE:MFC shares fell $0.11 to $19.31 during trading on Friday. The company’s stock traded 191,650 shares with an average volume of 3,196,428 shares. Manulife Financial hit a 52-week low of $14.92 and a 52-week high of $20.40. The stock has a 50-day moving average price of $18.91 and a 200-day moving average price of $18.50. The company has a market cap of $35.64 billion, a P/E of 6.89, a PEG ratio of 0.84 and a beta of 1.11.

Manulife Financial (NYSE:MFC – Rated) (TSE:MFC) last reported quarterly results on Wednesday, February 15th. The financial services provider reported EPS of $0.65 for the quarter, beating consensus expectations of $0.61 by $0.04. The business generated $11.34 billion in revenue for the quarter. On average, equity analysts expect Manulife Financial to earn $2.39 per share this fiscal year.

Analyst upgrades and downgrades

Several brokerage firms have issued reports on MFCs. Scotiabank raised its price target on Manulife Financial to C$34.00 from C$27.00 in a research note on Monday, Jan. 30. Credit Suisse Group began reporting on Manulife Financial in a research note on Thursday, January 12. They set the stock’s rating to “neutral.” CIBC raised its price target on Manulife Financial from C$23.00 to C$27.00 in a research note on Wednesday, Jan. 25. National Bank Financial raised its price target on Manulife Financial to C$27.00 from C$26.00 in a research note on Thursday, Feb. 16. Finally, Royal Bank of Canada raised its price target on Manulife Financial from C$26.00 to C$28.00, giving the company a ‘Sector Performing’ rating in its research note on Friday, February 17. Seven analysts rated the stock as a hold, while one analyst rated it as a buy. The stock currently has a consensus rating of “hold” and a consensus price target of $29.29, according to data from MarketBeat.com.

Hedge fund involved in Manulife Financial

Several institutional investors have recently changed positions at MFC. BlackRock increased its stake in Manulife Financial by 10.1% in the first quarter. BlackRock Inc. purchased an additional 80,450 shares during the previous quarter and now owns 878,359 shares of the financial services provider, valued at $18,753,000. Raymond James Trust NA increased its stake in Manulife Financial by 7.9% in the first quarter. Raymond James Trust, NA, purchased an additional 2,013 shares last quarter and now owns 27,503 shares of the financial services provider, valued at $587,000. Cetera Investment Advisers purchased a new position in Manulife Financial in the first quarter for a value of approximately $428,000. Moores & Cabot increased its stake in Manulife Financial by 2.3% in the first quarter. Moors & Cabot Inc. purchased an additional 956 shares last quarter and now owns 43,078 shares of the financial services provider worth $920,000. Finally, Sequoia Financial Advisors LLC increased his stake in Manulife Financial by 32.7% in the first quarter. Sequoia Financial Advisors LLC now owns 14,560 shares in the financial services provider, valued at $311,000, after purchasing an additional 3,585 shares last quarter. 43.42% of the shares are held by institutional investors.

About Manulife Financial

(get rating)

Manulife Financial Corporation provides financial services. It operates in Asia, Canada, United States, Global Wealth and Asset Management, Corporate and Other segments. The Asia segment refers to insurance and insurance-based wealth building products in Asia. The Canada segment provides insurance-based savings products and banking services in Canada.

Recommended stories

Manulife Financial (NYSE:MFC) Dividend History

This instant news alert was generated by MarketBeat’s narrative science technology and financial data to provide our readers with the fastest and most accurate reporting. This article was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments regarding this story to contact@marketbeat.com.

Hear this before you consider Manulife Financial.

MarketBeat tracks Wall Street’s highest-rated, highest-performing research analysts and the stocks they recommend to clients every day. Marketbeat has identified five stocks top analysts are secretly whispering to customers to buy now before the whole market goes viral…and Manulife Financial was not on the list.

Manulife Financial is currently rated “Hold” among analysts, but high-scoring analysts think these five stocks are better buys.

Click here for 5 brands

A Beginner's Guide to Retirement Stock Covers



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *