Manulife Financial (NYSE:MFC) Upgraded to “Strong-Buy” at Dbs Bank

Dbs Bank upgraded shares of Manulife Financial (NYSE:MFC) (TSE:MFC) to a strong-buy rating in a research report released on Thursday, Zacks.com reports.

A number of other research analysts also recently issued reports on the company. TD Securities lifted their price target on Manulife Financial from $38.00 to $40.00 and gave the company a buy rating in a report on Friday, June 28th. National Bank Financial upgraded Manulife Financial from a sector perform rating to an outperform rating in a report on Thursday, May 9th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Buy and a consensus target price of $35.00.

Manulife Financial Stock Performance

MFC traded up $0.33 during trading on Thursday, hitting $25.08. 1,402,359 shares of the stock were exchanged, compared to its average volume of 2,821,831. The firm has a 50 day simple moving average of $25.99 and a 200 day simple moving average of $24.75. The firm has a market cap of $44.89 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 0.94 and a beta of 1.09. Manulife Financial has a 1 year low of $17.07 and a 1 year high of $27.51.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.27. Manulife Financial had a return on equity of 16.27% and a net margin of 9.28%. The business had revenue of $9.41 billion for the quarter, compared to the consensus estimate of $8.95 billion. During the same period last year, the business posted $0.62 EPS. As a group, equities analysts anticipate that Manulife Financial will post 2.72 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st will be given a $0.29 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.63%. Manulife Financial’s dividend payout ratio (DPR) is presently 67.44%.

Institutional Investors Weigh In On Manulife Financial

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in Manulife Financial in the fourth quarter valued at approximately $1,846,000. Cerity Partners LLC lifted its stake in Manulife Financial by 46.3% during the fourth quarter. Cerity Partners LLC now owns 50,795 shares of the financial services provider’s stock worth $1,122,000 after purchasing an additional 16,076 shares in the last quarter. NewEdge Wealth LLC acquired a new position in Manulife Financial during the fourth quarter worth $209,000. Triasima Portfolio Management inc. acquired a new position in Manulife Financial during the fourth quarter worth $985,000. Finally, S. R. Schill & Associates lifted its stake in Manulife Financial by 37.1% during the fourth quarter. S. R. Schill & Associates now owns 49,513 shares of the financial services provider’s stock worth $1,094,000 after purchasing an additional 13,411 shares in the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, 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 offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.