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

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has earned an average rating of “Moderate Buy” from the ten analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is C$37.50.

A number of brokerages have weighed in on MFC. BMO Capital Markets upped their price target on shares of Manulife Financial from C$40.00 to C$41.00 in a report on Friday, May 10th. Evercore upped their price target on shares of Manulife Financial from C$36.00 to C$37.00 in a report on Friday, May 10th. CIBC upped their price objective on shares of Manulife Financial from C$34.00 to C$36.00 in a research note on Friday, May 10th. National Bank Financial raised shares of Manulife Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a research note on Wednesday, May 8th. Finally, National Bankshares raised shares of Manulife Financial from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$34.00 to C$38.00 in a research note on Thursday, May 9th.

Insider Activity

In other news, Director Philip James Witherington sold 97,640 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of C$35.17, for a total value of C$3,433,852.34. In related news, Director Rocco Gori sold 48,640 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of C$35.25, for a total value of C$1,714,560.00. Also, Director Philip James Witherington sold 97,640 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of C$35.17, for a total value of C$3,433,852.34. Insiders have sold 157,878 shares of company stock worth $5,557,706 in the last 90 days. Company insiders own 0.02% of the company’s stock.

Manulife Financial Price Performance

Shares of TSE MFC opened at C$36.33 on Friday. Manulife Financial has a twelve month low of C$23.69 and a twelve month high of C$36.93. The company has a current ratio of 29.14, a quick ratio of 2.58 and a debt-to-equity ratio of 48.44. The company has a market capitalization of C$65.39 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 12.56 and a beta of 1.10. The firm has a 50-day moving average of C$35.22 and a two-hundred day moving average of C$32.55.

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

Manulife Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.40%. Manulife Financial’s dividend payout ratio is 70.18%.

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.