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

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have been assigned an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is C$43.45.

Several analysts have weighed in on the stock. Barclays upped their price objective on shares of Manulife Financial from C$39.00 to C$40.00 in a research note on Friday, November 22nd. Jefferies Financial Group boosted their price objective on Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. TD Securities raised their target price on Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Scotiabank upped their price target on shares of Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. Finally, National Bankshares raised their price objective on shares of Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday, November 7th.

Insiders Place Their Bets

In other news, Director Brooks Tingle sold 3,866 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of C$46.07, for a total value of C$178,102.75. Also, Director Kenneth Michael Ross sold 4,243 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of C$45.80, for a total transaction of C$194,315.82. In the last 90 days, insiders sold 77,771 shares of company stock worth $3,508,584. Corporate insiders own 0.03% of the company’s stock.

Manulife Financial Stock Performance

TSE MFC opened at C$43.53 on Friday. Manulife Financial has a twelve month low of C$28.06 and a twelve month high of C$46.42. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60. The stock has a market cap of C$77.05 billion, a P/E ratio of 18.52, a PEG ratio of 1.01 and a beta of 1.06. The company’s 50-day simple moving average is C$43.68 and its 200 day simple moving average is C$39.14.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Wednesday, November 20th. Manulife Financial’s dividend payout ratio is 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.