Manulife Financial Co. (TSE:MFC) Receives C$37.50 Consensus PT from Analysts

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has received a consensus rating of “Moderate Buy” from the ten brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is C$37.50.

Several equities research analysts have weighed in on the company. Evercore increased their price target on Manulife Financial from C$36.00 to C$37.00 in a research report on Friday, May 10th. CIBC raised their target price on Manulife Financial from C$34.00 to C$36.00 in a report on Friday, May 10th. National Bank Financial raised Manulife Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a report on Wednesday, May 8th. BMO Capital Markets upped their price objective on Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, May 10th. Finally, National Bankshares raised shares of Manulife Financial from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$34.00 to C$38.00 in a report on Thursday, May 9th.

Insider Buying and Selling at Manulife Financial

In other Manulife Financial news, Senior Officer Steve Finch sold 11,598 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of C$35.29, for a total transaction of C$409,293.42. In other Manulife Financial news, Director Rocco Gori sold 48,640 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of C$35.25, for a total value of C$1,714,560.00. Also, Senior Officer Steve Finch sold 11,598 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of C$35.29, for a total transaction of C$409,293.42. Insiders have sold a total of 157,878 shares of company stock valued at $5,557,706 over the last ninety days. Corporate insiders own 0.02% of the company’s stock.

Manulife Financial Price Performance

Shares of TSE:MFC opened at C$36.43 on Friday. Manulife Financial has a twelve month low of C$23.69 and a twelve month high of C$36.62. The company has a current ratio of 29.14, a quick ratio of 2.58 and a debt-to-equity ratio of 48.44. The company has a market cap of C$65.57 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 12.56 and a beta of 1.10. The company’s 50 day moving average is C$34.79 and its 200 day moving average is C$32.32.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings data on Wednesday, May 8th. The financial services provider reported C$0.94 EPS for the quarter, beating the consensus estimate of C$0.90 by C$0.04. Manulife Financial had a net margin of 18.29% and a return on equity of 10.48%. The business had revenue of C$12.80 billion for the quarter, compared to the consensus estimate of C$12.13 billion. On average, sell-side analysts forecast that Manulife Financial will post 3.6078629 EPS for the current year.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date was Tuesday, May 21st. Manulife Financial’s dividend payout ratio is presently 70.18%.

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.