Manulife Financial (NYSE:MFC) Issues Quarterly Earnings Results

Manulife Financial (NYSE:MFC) (TSE:MFC) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.01), Morningstar.com reports. The company had revenue of $16.60 billion during the quarter. Manulife Financial had a net margin of 9.36% and a return on equity of 13.41%. During the same period in the previous year, the company earned $0.70 earnings per share.

Shares of NYSE:MFC traded down $0.09 during midday trading on Friday, reaching $16.77. The company’s stock had a trading volume of 1,469,746 shares, compared to its average volume of 1,854,290. The firm has a market capitalization of $32.26 billion, a price-to-earnings ratio of 7.95, a price-to-earnings-growth ratio of 0.75 and a beta of 1.38. The stock has a 50 day moving average of $18.13. Manulife Financial has a fifty-two week low of $13.33 and a fifty-two week high of $18.95.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Tuesday, August 20th will be paid a $0.189 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.51%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.13. The ex-dividend date is Monday, August 19th. Manulife Financial’s payout ratio is currently 35.55%.

Several equities analysts have weighed in on the company. Zacks Investment Research raised Manulife Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Tuesday, July 23rd. Barclays reissued a “buy” rating and issued a $29.00 price objective on shares of Manulife Financial in a research note on Sunday, May 5th. Finally, ValuEngine downgraded Manulife Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Manulife Financial has an average rating of “Buy” and a consensus price target of $25.67.

Several large investors have recently made changes to their positions in MFC. State of Wisconsin Investment Board boosted its holdings in shares of Manulife Financial by 15.7% in the first quarter. State of Wisconsin Investment Board now owns 2,367,496 shares of the financial services provider’s stock worth $40,050,000 after acquiring an additional 321,418 shares during the period. Bremer Bank National Association bought a new position in shares of Manulife Financial during the first quarter valued at approximately $42,000. Ninepoint Partners LP boosted its stake in shares of Manulife Financial by 5,656.5% during the first quarter. Ninepoint Partners LP now owns 690,776 shares of the financial services provider’s stock valued at $11,681,000 after purchasing an additional 678,776 shares in the last quarter. We Are One Seven LLC boosted its stake in shares of Manulife Financial by 93.4% during the first quarter. We Are One Seven LLC now owns 22,714 shares of the financial services provider’s stock valued at $384,000 after purchasing an additional 10,970 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. boosted its stake in shares of Manulife Financial by 1,482.6% during the second quarter. Waratah Capital Advisors Ltd. now owns 1,173,246 shares of the financial services provider’s stock valued at $21,337,000 after purchasing an additional 1,099,111 shares in the last quarter. 46.91% of the stock is currently owned by institutional investors.

Manulife Financial Company Profile

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; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.

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Earnings History for Manulife Financial (NYSE:MFC)

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