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

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have been given a consensus rating of “Moderate Buy” by the ten research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$37.50.

Several research firms recently weighed in on MFC. National Bankshares upgraded Manulife Financial from a “sector perform” rating to an “outperform” rating and increased their price target for the company from C$34.00 to C$38.00 in a report on Thursday, May 9th. TD Securities increased their target price on shares of Manulife Financial from C$38.00 to C$40.00 and gave the company a “buy” rating in a research note on Friday. Evercore lifted their price target on shares of Manulife Financial from C$36.00 to C$37.00 in a research note on Friday, May 10th. BMO Capital Markets increased their price objective on shares of Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, May 10th. Finally, CIBC boosted their target price on Manulife Financial from C$34.00 to C$36.00 in a research report on Friday, May 10th.

Manulife Financial Stock Up 0.4 %

Shares of TSE MFC opened at C$36.43 on Friday. The company has a current ratio of 29.14, a quick ratio of 2.58 and a debt-to-equity ratio of 48.44. Manulife Financial has a 12-month low of C$23.69 and a 12-month high of C$36.62. The firm’s 50-day moving average price is C$34.79 and its 200-day moving average price is C$32.27. The stock has a market capitalization of C$65.57 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 12.56 and a beta of 1.10.

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

Manulife Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders 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 dividend yield of 4.39%. The ex-dividend date of this dividend was Tuesday, May 21st. Manulife Financial’s dividend payout ratio (DPR) is presently 70.18%.

Insider Activity

In other Manulife Financial news, Senior Officer Steve Finch sold 11,598 shares of the firm’s stock in a transaction 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 news, Director Rocco Gori sold 48,640 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were 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 Manulife Financial stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of C$35.29, for a total transaction of C$409,293.42. Over the last quarter, insiders sold 157,878 shares of company stock valued at $5,557,706. Corporate insiders own 0.02% of the company’s stock.

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.