Manulife Financial Co. (TSE:MFC) Receives C$43.45 Consensus Target Price from Brokerages

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have earned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$43.45.

A number of equities research analysts have issued reports on the company. Cormark upped their price objective on Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. National Bankshares increased their price target on Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Barclays lifted their price objective on shares of Manulife Financial from C$39.00 to C$40.00 in a research note on Friday, November 22nd. CIBC raised their target price on shares of Manulife Financial from C$42.00 to C$46.00 in a report on Friday, November 8th. Finally, TD Securities raised their price objective on shares of Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Insider Activity at Manulife Financial

In related news, Senior Officer James D. Gallagher sold 57,064 shares of Manulife Financial stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of C$44.80, for a total transaction of C$2,556,638.39. Also, Director Anthony Alex Silva sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of C$45.22, for a total transaction of C$45,218.70. Insiders sold 77,771 shares of company stock worth $3,508,584 over the last three months. 0.03% of the stock is owned by corporate insiders.

Manulife Financial Stock Up 0.5 %

Shares of TSE MFC opened at C$44.29 on Friday. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. Manulife Financial has a 12-month low of C$28.06 and a 12-month high of C$46.42. The firm’s 50-day moving average price is C$43.91 and its 200-day moving average price is C$39.44. The stock has a market capitalization of C$78.39 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 1.01 and a beta of 1.06.

Manulife Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, November 20th. This represents a $1.60 annualized dividend and a dividend yield of 3.61%. Manulife Financial’s dividend payout ratio is currently 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.