Manulife Financial Co. (TSE:MFC) Stock Has Consensus Target Price of C$65.91

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have received an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$66.45.

Several equities analysts have weighed in on the company. Scotia raised their price objective on Manulife Financial from C$61.00 to C$67.00 and gave the company a “sector outperform” rating in a research note on Friday, August 7th. Scotiabank lowered shares of Manulife Financial from a “sector outperform” rating to a “hold” rating and set a C$67.00 price target on the stock. in a research report on Wednesday. Jefferies Financial Group lifted their target price on shares of Manulife Financial from C$61.00 to C$70.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Royal Bank Of Canada boosted their target price on Manulife Financial from C$55.00 to C$67.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Finally, BMO Capital Markets upped their target price on Manulife Financial from C$67.00 to C$70.00 and gave the company an “outperform” rating in a report on Friday, August 7th.

Insider Transactions at Manulife Financial

In other Manulife Financial news, insider Patrick David Graham sold 6,843 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of C$62.06, for a total value of C$424,676.58. 0.03% of the stock is owned by company insiders.

Manulife Financial Price Performance

Shares of MFC opened at C$63.33 on Tuesday. The business’s fifty day moving average is C$61.09 and its 200 day moving average is C$55.49. Manulife Financial has a 12-month low of C$44.23 and a 12-month high of C$63.98. The company has a quick ratio of 2.58, a current ratio of 2.36 and a debt-to-equity ratio of 26.52. The stock has a market cap of C$104.77 billion, a P/E ratio of 17.16, a P/E/G ratio of 1.01 and a beta of 0.59.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported C$1.09 EPS for the quarter. Manulife Financial had a net margin of 11.62% and a return on equity of 12.98%. The business had revenue of C$20.34 billion during the quarter. Sell-side analysts anticipate that Manulife Financial will post 3.61 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Monday, September 21st were given a $0.4850 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $1.94 annualized dividend and a yield of 3.1%. Manulife Financial’s payout ratio is currently 50.14%.

About Manulife Financial

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.