Manulife Financial (NYSE:MFC) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Manulife Financial (NYSE:MFC – Get Rating) (TSE:MFC) in a report published on Thursday morning. The firm issued a hold rating on the financial services provider’s stock.

Several other brokerages have also issued reports on MFC. Scotiabank lifted their price target on shares of Manulife Financial from C$27.00 to C$34.00 in a research note on Monday, January 30th. TD Securities lifted their price target on shares of Manulife Financial from C$30.00 to C$32.00 in a research note on Thursday, February 16th. Desjardins boosted their price objective on shares of Manulife Financial from C$26.00 to C$28.00 in a research note on Friday, February 17th. Credit Suisse Group assumed coverage on shares of Manulife Financial in a research note on Thursday, January 12th. They set a neutral rating on the stock. Finally, Royal Bank of Canada boosted their price objective on shares of Manulife Financial from C$26.00 to C$28.00 and gave the stock a sector perform rating in a research note on Friday, February 17th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $29.29.

Manulife Financial Price Performance

MFC stock traded down $0.48 during midday trading on Thursday, hitting $17.53. The company’s stock had a trading volume of 5,626,024 shares, compared to its average volume of 4,057,182. Manulife Financial has a twelve month low of $14.92 and a twelve month high of $21.85. The company’s fifty day moving average price is $19.33 and its 200 day moving average price is $17.86. The stock has a market capitalization of $32.56 billion, a P/E ratio of 6.22, a PEG ratio of 0.75 and a beta of 1.13.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 20th. Investors of record on Tuesday, February 28th will be issued a dividend of $0.274 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.24. The ex-dividend date is Monday, February 27th. This represents a $1.10 annualized dividend and a dividend yield of 6.25%. Manulife Financial’s payout ratio is presently 39.01%.

Institutional Trading of Manulife Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pinnacle Bancorp Inc. bought a new stake in shares of Manulife Financial during the 3rd quarter worth about $25,000. MinichMacGregor Wealth Management LLC bought a new stake in shares of Manulife Financial during the 4th quarter worth about $25,000. Tsfg LLC boosted its holdings in shares of Manulife Financial by 145.7% during the 3rd quarter. Tsfg LLC now owns 1,693 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,004 shares during the period. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Manulife Financial during the 4th quarter worth about $27,000. Finally, Ronald Blue Trust Inc. boosted its holdings in shares of Manulife Financial by 100.7% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,736 shares of the financial services provider’s stock worth $30,000 after buying an additional 871 shares during the period. Institutional investors own 43.42% of the company’s stock.

About Manulife Financial

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Manulife Financial Corp. engages in the provision of financial services. It operates through the following segments: Asia, Canada, U.S., Global Wealth and Asset Management, and Corporate and Other. The Asia segment refers to insurance and insurance-based wealth accumulation products in Asia. The Canada segment offers insurance-based wealth accumulation products and banking services in Canada.