Manulife Financial Co. (TSE:MFC) Given Average Rating of “Buy” by Brokerages

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has received a consensus rating of “Buy” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is C$55.63.

A number of analysts have issued reports on MFC shares. TD Securities cut their target price on Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Barclays boosted their price target on shares of Manulife Financial from C$49.00 to C$52.00 in a research report on Friday, January 9th. Royal Bank Of Canada raised their price objective on shares of Manulife Financial from C$52.00 to C$55.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Desjardins set a C$55.00 target price on shares of Manulife Financial and gave the stock a “buy” rating in a research note on Thursday, December 18th. Finally, Jefferies Financial Group boosted their target price on shares of Manulife Financial from C$54.00 to C$58.00 in a report on Monday, February 2nd.

Manulife Financial Price Performance

MFC stock opened at C$46.45 on Monday. Manulife Financial has a 1 year low of C$36.93 and a 1 year high of C$52.97. The company has a debt-to-equity ratio of 28.80, a current ratio of 2.12 and a quick ratio of 2.58. The firm has a market capitalization of C$77.86 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.01 and a beta of 0.79. The business has a 50 day simple moving average of C$49.52 and a 200-day simple moving average of C$47.75.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, February 11th. The financial services provider reported C$1.12 EPS for the quarter. The firm had revenue of C$22.03 billion for the quarter. Manulife Financial had a return on equity of 11.34% and a net margin of 10.91%. Equities research analysts anticipate that Manulife Financial will post 3.6104452 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, March 19th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Wednesday, February 25th. Manulife Financial’s payout ratio is presently 57.33%.

Insider Buying and Selling

In other Manulife Financial news, Director Adam Thomas Wise sold 3,500 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of C$46.47, for a total transaction of C$162,645.00. Following the completion of the sale, the director owned 2,497 shares of the company’s stock, valued at C$116,035.59. This trade represents a 58.36% decrease in their ownership of the stock. Corporate insiders own 0.03% of the company’s stock.

Manulife Financial Company Profile

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.