Brokerages Set Manulife Financial Co. (TSE:MFC) PT at C$43.45

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is C$43.45.

Several equities analysts have recently weighed in on the stock. Scotiabank upped their price objective on shares of Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. National Bankshares increased their price target on Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday, November 7th. CIBC boosted their price target on shares of Manulife Financial from C$42.00 to C$46.00 in a report on Friday, November 8th. Cormark raised their target price on Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. Finally, Barclays boosted their target price on shares of Manulife Financial from C$39.00 to C$40.00 in a research note on Friday, November 22nd.

Insider Buying and Selling at Manulife Financial

In related news, Senior Officer James D. Gallagher sold 57,064 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total value of C$2,556,638.39. Also, Senior Officer Steve Finch sold 11,598 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total value of C$534,308.26. Over the last quarter, insiders sold 77,771 shares of company stock valued at $3,508,584. Corporate insiders own 0.03% of the company’s stock.

Manulife Financial Price Performance

MFC stock opened at C$44.05 on Friday. The firm has a market cap of C$77.97 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.01 and a beta of 1.06. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60. The company’s fifty day simple moving average is C$43.78 and its 200 day simple moving average is C$39.29. Manulife Financial has a 12-month low of C$28.06 and a 12-month high of C$46.42.

Manulife Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.60 dividend on an annualized basis and a yield of 3.63%. Manulife Financial’s dividend payout ratio (DPR) is 68.09%.

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.