Business

Manulife Financial Hikes Dividend 11%

Manulife Financial Hikes Dividend 11%

The company reported the earnings of $0.37/Share in the last quarter where the estimated EPS by analysts was $0.34/share. Manulife Financial Corp had a return on equity of 9.05% and a net margin of 4.63%. This was higher than C$0.86 billion, or C$0.42 per share, in last year's fourth quarter.

Yesterday Manulife Financial (TSE:MFC) traded -0.08% lower at $24.52. The stock hit its 52-Week High on Jan 26, 2017 and 52-Week Low on Feb 12, 2016. The company has a market capitalization of $36.72 billion, a P/E ratio of 16.0861 and a beta of 1.53. The stock's current distance from 20-Day Simple Moving Average (SMA20) is -1.3% where SMA50 and SMA200 are 1.29% and 23.09% respectively.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 20th. Investors of record on Wednesday, February 22nd will be given a dividend of $0.1574 per share. This represents a $0.63 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Friday, November 18th. According to these analysts, the Low Revenue Estimate for Manulife Financial Corporation is 12.44 Billion and the High Revenue Estimate is 12.44 Billion. Quantbot Technologies LP acquired a new position in Manulife Financial Corp during the third quarter valued at approximately $176,000. If you are accessing this article on another domain, it was copied illegally and reposted in violation of USA & global copyright & trademark legislation. The stock lost -0.32% in total of its share price.

A number of research firms have weighed in on MFC. Finally, BMO Capital Markets reiterated a "buy" rating on shares of Manulife Financial Corp in a report on Friday, November 11th. Zacks Investment Research raised shares of Manulife Financial Corp from a "hold" rating to a "buy" rating and set a $21.00 price objective on the stock in a research note on Tuesday, January 10th. Finally, Credit Suisse Group reissued an "outperform" rating on shares of Manulife Financial Corp in a report on Monday, November 14th.

Civilian deaths rise in Afghanistan
The conflict in Afghanistan has killed 24,841 civilians and injured 45,347 since 2009, according to the United Nations report . UNAMA's report Monday charted a 10-fold increase in civilian casualties blamed on Islamic State - 899, including 209 deaths.

Among analysts who offered their Analysis on Manulife Financial Corporation (NYSE:MFC)-2 analysts issued Strong buy for the stock, 1 analysts have given a Buy rating, 1 think it's a HOLD, 0 reported it as Underperform, while 0 analyst issued a Sell rating. Manulife Financial Corp presently has a consensus rating of "Buy" and an average target price of $22.22.

Several large investors have recently modified their holdings of MFC. Up 24 cents, or 1.45 per cent, to $16.78 on 5.4 million shares. 1832 Asset Management L.P. raised its stake in Manulife Financial Corp by 2.3% in the second quarter. The payout went up $0.02 per quarter, good enough for an 11% increase to $0.21 per share. Wells Fargo & Company MN now owns 11,918,288 shares of the company's stock valued at $168,167,000 after buying an additional 394,469 shares during the period.

Worldwide financial services group Manulife Financial has exceeded its earnings target of $4 billion in 2016, benefiting from a strong Asian performance to achieve expectation-beating results.


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