Manulife Financial Co. (TSE:MFC) Receives C$43.45 Average PT from Analysts

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have received an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$43.45.

MFC has been the subject of a number of research reports. Scotiabank increased their target price on Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. Barclays increased their price objective on Manulife Financial from C$39.00 to C$40.00 in a report on Friday, November 22nd. Royal Bank of Canada lifted their target price on Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. CIBC upped their price target on Manulife Financial from C$42.00 to C$46.00 in a research report on Friday, November 8th. Finally, Cormark raised their price target on shares of Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st.

Manulife Financial Stock Up 0.4 %

Shares of MFC stock opened at C$44.87 on Tuesday. Manulife Financial has a 12-month low of C$26.17 and a 12-month high of C$46.42. 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 firm has a fifty day moving average of C$42.17 and a 200-day moving average of C$38.17. The company has a market capitalization of C$79.42 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 1.01 and a beta of 1.06.

Manulife Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.57%. Manulife Financial’s payout ratio is 68.09%.

Insider Buying and Selling

In other news, Senior Officer Steve Finch sold 11,598 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total transaction of C$534,308.26. Also, Director Anthony Alex Silva sold 1,000 shares of Manulife Financial stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of C$45.22, for a total value of C$45,218.70. Over the last 90 days, insiders sold 75,694 shares of company stock worth $3,395,385. Company insiders own 0.03% of the company’s stock.

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.