Manulife Financial Co. (TSE:MFC) Receives Average Rating of “Moderate Buy” from Brokerages

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has been assigned an average rating of “Moderate Buy” from the thirteen analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is C$43.45.

Several equities analysts recently issued reports on MFC shares. Royal Bank of Canada lifted their price objective on Manulife Financial from C$38.00 to C$39.00 in a report on Friday, August 9th. TD Securities lifted their price objective on Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group lifted their price objective on Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays boosted their price target on Manulife Financial from C$39.00 to C$40.00 in a report on Friday. Finally, Scotiabank boosted their price target on Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th.

Insider Buying and Selling at Manulife Financial

In other Manulife Financial news, Director Tin Ku sold 2,166 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the completion of the sale, the director now owns 253 shares of the company’s stock, valued at approximately C$9,474.85. The trade was a 89.54 % decrease in their ownership of the stock. Also, Director Brooks Tingle sold 3,866 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total value of C$178,102.75. Over the last 90 days, insiders sold 17,630 shares of company stock valued at $793,528. Company insiders own 0.03% of the company’s stock.

Manulife Financial Stock Down 1.5 %

MFC opened at C$44.70 on Tuesday. The business has a 50 day simple moving average of C$41.78 and a 200-day simple moving average of C$37.96. The stock has a market capitalization of C$79.12 billion, a P/E ratio of 19.02, a P/E/G ratio of 1.01 and a beta of 1.06. Manulife Financial has a 12 month low of C$26.11 and a 12 month high of C$46.42. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58.

Manulife Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is presently 68.09%.

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.