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

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

Several equities research analysts recently issued reports on MFC shares. Cormark boosted their price objective on Manulife Financial from C$47.00 to C$48.00 in a report on Thursday, November 21st. National Bankshares boosted their price target on shares of Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Jefferies Financial Group raised their price objective on shares of Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Scotiabank raised their price target on Manulife Financial from C$48.00 to C$49.00 in a research note on Friday, November 8th. Finally, TD Securities lifted their price target on Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Manulife Financial Stock Up 1.1 %

Shares of MFC opened at C$44.03 on Friday. The company’s 50-day moving average price is C$43.68 and its 200 day moving average price is C$39.16. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. Manulife Financial has a 12-month low of C$28.06 and a 12-month high of C$46.42. The firm has a market cap of C$77.93 billion, a P/E ratio of 18.74, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06.

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 paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Wednesday, November 20th. Manulife Financial’s dividend payout ratio is currently 68.09%.

Insider Transactions at Manulife Financial

In other Manulife Financial news, Senior Officer Steve Finch sold 11,598 shares of Manulife Financial 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 value of C$534,308.26. Also, 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. Over the last ninety days, insiders have sold 77,771 shares of company stock worth $3,508,584. 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.