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

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is C$45.60.

Several brokerages have recently commented on MFC. CIBC increased their price objective on Manulife Financial from C$47.00 to C$48.00 in a report on Friday, February 21st. Jefferies Financial Group upped their target price on Manulife Financial from C$50.00 to C$51.00 in a research report on Thursday, January 30th. Barclays raised their price target on shares of Manulife Financial from C$40.00 to C$47.00 in a research report on Monday, January 6th. Finally, TD Securities increased their price objective on shares of Manulife Financial from C$48.00 to C$49.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th.

Insiders Place Their Bets

In other Manulife Financial news, Director Kenneth Michael Ross sold 3,219 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of C$44.91, for a total value of C$144,572.68. Also, Senior Officer Steve Finch sold 11,598 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of C$43.43, for a total transaction of C$503,646.63. Insiders sold a total of 18,683 shares of company stock worth $816,102 over the last 90 days. Corporate insiders own 0.03% of the company’s stock.

Manulife Financial Stock Down 1.1 %

Manulife Financial stock opened at C$44.06 on Monday. Manulife Financial has a 52-week low of C$31.24 and a 52-week high of C$46.42. The company has a market cap of C$77.28 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.01 and a beta of 1.06. The firm’s fifty day moving average is C$43.23 and its 200 day moving average is C$42.88.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 19th were issued a dividend of $0.44 per share. The ex-dividend date was Wednesday, March 5th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 3.99%. Manulife Financial’s dividend payout ratio is 49.79%.

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.