Manulife Financial Co. (TSE:MFC) Receives C$44.09 Consensus PT from Brokerages

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has received an average rating of “Moderate Buy” from the thirteen analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is C$44.09.

A number of equities analysts have recently commented on the company. National Bankshares raised their price objective on Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. CIBC raised their price target on shares of Manulife Financial from C$42.00 to C$46.00 in a report on Friday, November 8th. Cormark lifted their price target on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. Barclays increased their price objective on shares of Manulife Financial from C$40.00 to C$47.00 in a research report on Monday, January 6th. Finally, TD Securities lifted their target price on shares of Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Insiders Place Their Bets

In related news, Director Brooks Tingle sold 3,866 shares of Manulife Financial stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total value of C$178,102.75. Also, Senior Officer James D. Gallagher sold 57,064 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of C$44.80, for a total value of C$2,556,638.39. Insiders have sold 77,771 shares of company stock worth $3,508,584 in the last three months. 0.03% of the stock is owned by insiders.

Manulife Financial Trading Down 0.2 %

Shares of MFC opened at C$44.26 on Wednesday. Manulife Financial has a twelve month low of C$28.06 and a twelve month high of C$46.42. The firm has a market capitalization of C$78.34 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. 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 stock’s fifty day simple moving average is C$44.50 and its 200 day simple moving average is C$40.29.

Manulife Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders 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 dividend on an annualized basis and a yield of 3.62%. Manulife Financial’s dividend payout ratio (DPR) is presently 68.09%.

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.