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

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is C$45.60.

MFC has been the topic of several recent analyst reports. CIBC upped their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a report on Friday, February 21st. Barclays upped their price target on Manulife Financial from C$40.00 to C$47.00 in a research note on Monday, January 6th. TD Securities boosted their price objective on Manulife Financial from C$48.00 to C$49.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Jefferies Financial Group increased their target price on Manulife Financial from C$50.00 to C$51.00 in a research note on Thursday, January 30th.

Insider Buying and Selling

In other news, Senior Officer Steve Finch sold 11,598 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of C$43.43, for a total value of C$503,646.63. Also, Director Kenneth Michael Ross sold 3,219 shares of the business’s stock in a transaction that occurred 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. Over the last ninety days, insiders have sold 18,683 shares of company stock worth $816,102. Company insiders own 0.03% of the company’s stock.

Manulife Financial Price Performance

TSE MFC opened at C$46.35 on Monday. The stock has a market capitalization of C$81.30 billion, a P/E ratio of 14.42, a PEG ratio of 1.01 and a beta of 1.06. The firm’s 50-day moving average is C$43.32 and its two-hundred day moving average is C$43.05. Manulife Financial has a 12 month low of C$31.24 and a 12 month high of C$46.42.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 19th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.80%. Manulife Financial’s payout ratio 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.