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

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has received a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$44.09.

A number of analysts recently weighed in on the stock. National Bankshares upped their target price on shares of Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday, November 7th. TD Securities increased their price objective on shares of Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. CIBC lifted their price objective on shares of Manulife Financial from C$42.00 to C$46.00 in a research report on Friday, November 8th. Scotiabank boosted their target price on shares of Manulife Financial from C$48.00 to C$49.00 in a research note on Friday, November 8th. Finally, Barclays raised their price target on Manulife Financial from C$40.00 to C$47.00 in a research note on Monday, January 6th.

Manulife Financial Trading Up 0.6 %

MFC opened at C$42.80 on Wednesday. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. The stock has a market capitalization of C$75.76 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 1.01 and a beta of 1.06. The business has a fifty day moving average price of C$44.43 and a 200 day moving average price of C$40.18. Manulife Financial has a 12 month low of C$28.06 and a 12 month high of C$46.42.

Manulife Financial Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.74%. Manulife Financial’s dividend payout ratio (DPR) is presently 68.09%.

Insider Activity

In other Manulife Financial news, Director Kenneth Michael Ross sold 4,243 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of C$45.80, for a total value of C$194,315.82. Also, Senior Officer James D. Gallagher sold 57,064 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total transaction of C$2,556,638.39. Insiders have sold 77,771 shares of company stock valued at $3,508,584 in the last ninety days. 0.03% of the stock is currently owned by company insiders.

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.