Manulife Financial Co. (TSE:MFC) Announces $0.40 Quarterly Dividend

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) announced a quarterly dividend on Wednesday, November 20th,RTT News reports. Investors of record on Thursday, December 19th will be given a dividend of 0.40 per share by the financial services provider on Thursday, December 19th. This represents a $1.60 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Wednesday, November 20th.

Manulife Financial Stock Performance

Shares of Manulife Financial stock opened at C$46.05 on Monday. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. The firm has a market capitalization of C$81.51 billion, a P/E ratio of 19.60, a P/E/G ratio of 1.01 and a beta of 1.06. The business has a fifty day simple moving average of C$40.99 and a two-hundred day simple moving average of C$37.53. Manulife Financial has a 12 month low of C$25.87 and a 12 month high of C$46.42.

Insider Transactions at Manulife Financial

In related news, Director Tin Ku sold 2,166 shares of Manulife Financial stock in a transaction that occurred on 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 transaction, the director now owns 253 shares in the company, valued at approximately C$9,474.85. This trade represents a 89.54 % decrease in their ownership of the stock. Corporate insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MFC. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. TD Securities upped 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 increased their price target on Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Barclays set a C$39.00 price objective on Manulife Financial and gave the company an “equal weight” rating in a research report on Thursday, September 5th. Finally, Scotiabank upped their price objective on Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$42.27.

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.