Manulife Financial (NYSE:MFC) Sees Strong Trading Volume – What’s Next?

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) saw unusually-strong trading volume on Monday . Approximately 5,764,791 shares were traded during trading, an increase of 169% from the previous session’s volume of 2,141,681 shares.The stock last traded at $30.38 and had previously closed at $31.16.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $45.50.

Manulife Financial Price Performance

The stock has a market capitalization of $52.75 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 1.11 and a beta of 1.09. The stock has a fifty day moving average price of $30.35 and a 200 day moving average price of $30.02.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.67 by $0.07. The business had revenue of $9.31 billion during the quarter. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. Research analysts anticipate that Manulife Financial Co. will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.3094 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.24 annualized dividend and a yield of 4.04%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30. Manulife Financial’s payout ratio is currently 58.45%.

Institutional Trading of Manulife Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Crews Bank & Trust purchased a new position in shares of Manulife Financial during the 4th quarter valued at $26,000. Brooklyn Investment Group bought a new stake in Manulife Financial during the third quarter valued at $26,000. Capital Performance Advisors LLP purchased a new position in Manulife Financial during the third quarter worth about $30,000. Lee Danner & Bass Inc. bought a new position in Manulife Financial in the 4th quarter worth about $31,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Manulife Financial in the 4th quarter valued at about $34,000. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

About Manulife Financial

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.