Manulife Financial Co. (TSE:MFC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have received an average recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$37.50.

A number of analysts have issued reports on MFC shares. National Bank Financial raised Manulife Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a research report on Wednesday, May 8th. National Bankshares raised shares of Manulife Financial from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$34.00 to C$38.00 in a report on Thursday, May 9th. TD Securities lifted their target price on shares of Manulife Financial from C$38.00 to C$40.00 and gave the stock a “buy” rating in a research note on Friday. BMO Capital Markets upped their price target on shares of Manulife Financial from C$40.00 to C$41.00 in a research note on Friday, May 10th. Finally, Evercore lifted their price objective on shares of Manulife Financial from C$36.00 to C$37.00 in a research note on Friday, May 10th.

Insider Buying and Selling at Manulife Financial

In related news, Senior Officer Steve Finch sold 11,598 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of C$35.29, for a total transaction of C$409,293.42. In related news, Senior Officer Steve Finch sold 11,598 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of C$35.29, for a total transaction of C$409,293.42. Also, Director Rocco Gori sold 48,640 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of C$35.25, for a total transaction of C$1,714,560.00. Insiders sold a total of 157,878 shares of company stock worth $5,557,706 over the last three months. Company insiders own 0.02% of the company’s stock.

Manulife Financial Trading Up 0.4 %

TSE MFC opened at C$36.43 on Friday. The company has a current ratio of 29.14, a quick ratio of 2.58 and a debt-to-equity ratio of 48.44. The firm has a market capitalization of C$65.57 billion, a P/E ratio of 15.98, a PEG ratio of 12.56 and a beta of 1.10. The business has a fifty day simple moving average of C$34.79 and a 200 day simple moving average of C$32.27. Manulife Financial has a 12 month low of C$23.69 and a 12 month high of C$36.62.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results on Wednesday, May 8th. The financial services provider reported C$0.94 EPS for the quarter, topping the consensus estimate of C$0.90 by C$0.04. The firm had revenue of C$12.80 billion for the quarter, compared to analysts’ expectations of C$12.13 billion. Manulife Financial had a net margin of 18.29% and a return on equity of 10.48%. On average, analysts predict that Manulife Financial will post 3.6078629 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend was Tuesday, May 21st. Manulife Financial’s payout ratio is presently 70.18%.

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.