Analysts Set Manulife Financial Co. (TSE:MFC) Target Price at C$45.60

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$45.60.

Several brokerages have recently commented on MFC. Barclays lifted their target price on Manulife Financial from C$40.00 to C$47.00 in a research note on Monday, January 6th. CIBC lifted their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Friday, February 21st. TD Securities increased their price objective on shares of Manulife Financial from C$48.00 to C$49.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Jefferies Financial Group raised their target price on shares of Manulife Financial from C$50.00 to C$51.00 in a research note on Thursday, January 30th.

Insiders Place Their Bets

In other Manulife Financial news, Director Kenneth Michael Ross sold 3,219 shares of Manulife Financial stock in a transaction on Monday, March 3rd. The stock was sold at an average price of C$44.91, for a total value of C$144,572.68. Also, Director Brooks Tingle sold 3,866 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of C$43.43, for a total value of C$167,882.21. Insiders sold 18,683 shares of company stock worth $816,102 in the last quarter. 0.03% of the stock is currently owned by corporate insiders.

Manulife Financial Stock Performance

Manulife Financial stock opened at C$39.50 on Monday. The stock has a 50-day simple moving average of C$43.21 and a 200 day simple moving average of C$43.06. The stock has a market capitalization of C$69.28 billion, a P/E ratio of 12.29, a PEG ratio of 1.01 and a beta of 1.06. Manulife Financial has a 52 week low of C$31.24 and a 52 week high of C$46.42.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 19th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.46%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, March 5th. Manulife Financial’s dividend payout ratio (DPR) is currently 49.79%.

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.