Manulife Financial Co. (NYSE:MFC) (TSE:MFC) – Research analysts at Desjardins upped their Q3 2018 EPS estimates for shares of Manulife Financial in a note issued to investors on Monday, October 15th, Zacks Investment Research reports. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings of $0.50 per share for the quarter, up from their previous forecast of $0.47. Desjardins currently has a “Buy” rating on the stock. Desjardins also issued estimates for Manulife Financial’s FY2018 earnings at $1.98 EPS.
Other equities research analysts also recently issued reports about the stock. Canaccord Genuity restated a “buy” rating on shares of Manulife Financial in a research note on Friday. Zacks Investment Research upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Friday, October 5th. TD Securities restated a “buy” rating on shares of Manulife Financial in a research note on Thursday. TheStreet downgraded shares of Manulife Financial from a “b-” rating to a “c+” rating in a research note on Monday, October 15th. Finally, ValuEngine upgraded shares of Manulife Financial from a “strong sell” rating to a “sell” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Manulife Financial currently has a consensus rating of “Buy” and an average target price of $25.67.
Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, November 7th. The financial services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.50 by $0.25. Manulife Financial had a net margin of 4.22% and a return on equity of 12.69%. The firm had revenue of $6.15 billion for the quarter. During the same period in the prior year, the business earned $0.53 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Tuesday, November 20th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, November 19th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 4.50%. Manulife Financial’s dividend payout ratio (DPR) is currently 39.77%.
A number of large investors have recently bought and sold shares of MFC. Cerebellum GP LLC acquired a new position in shares of Manulife Financial in the 3rd quarter worth approximately $149,000. MUFG Americas Holdings Corp lifted its position in shares of Manulife Financial by 61.0% in the 2nd quarter. MUFG Americas Holdings Corp now owns 8,343 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 3,160 shares during the period. Truvestments Capital LLC acquired a new position in shares of Manulife Financial in the 3rd quarter worth approximately $149,000. ProVise Management Group LLC acquired a new position in shares of Manulife Financial in the 2nd quarter worth approximately $191,000. Finally, We Are One Seven LLC acquired a new position in shares of Manulife Financial in the 3rd quarter worth approximately $227,000. Institutional investors and hedge funds own 46.21% of the company’s stock.
About Manulife Financial
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance through insurance agents, brokers, banks, financial planners, and direct marketing.
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