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

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is C$43.45.

A number of research firms recently issued reports on MFC. Cormark boosted their price objective on Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. Scotiabank boosted their price target on shares of Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Royal Bank of Canada boosted their target price on shares of Manulife Financial from C$38.00 to C$39.00 in a research note on Friday, August 9th. Finally, Jefferies Financial Group upped their target price on shares of Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th.

Insider Activity

In other news, Director Tin Ku sold 2,166 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 253 shares of the company’s stock, valued at C$9,474.85. This trade represents a 89.54 % decrease in their position. Also, Director Anthony Alex Silva sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of C$45.22, for a total value of C$45,218.70. Insiders sold a total of 75,694 shares of company stock worth $3,395,385 over the last 90 days. 0.03% of the stock is currently owned by company insiders.

Manulife Financial Stock Performance

Shares of MFC stock opened at C$45.07 on Tuesday. The company has a market cap of C$79.77 billion, a P/E ratio of 19.18, a PEG ratio of 1.01 and a beta of 1.06. The business has a 50 day moving average of C$42.30 and a two-hundred day moving average of C$38.22. Manulife Financial has a 52 week low of C$26.17 and a 52 week high of C$46.42. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60.

Manulife Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial’s dividend payout ratio is presently 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.