Manulife Financial (TSE:MFC) Posts Earnings Results

Manulife Financial (TSE:MFC) (NYSE:MFC) announced its quarterly earnings results on Wednesday. The financial services provider reported C$1.06 EPS for the quarter, FiscalAI reports. Manulife Financial had a net margin of 10.91% and a return on equity of 11.34%. The firm had revenue of C$2.15 billion during the quarter.

Manulife Financial Trading Down 0.4%

Manulife Financial stock traded down C$0.20 during midday trading on Wednesday, reaching C$54.62. The stock had a trading volume of 5,155,190 shares, compared to its average volume of 5,984,919. The company has a quick ratio of 2.58, a current ratio of 2.12 and a debt-to-equity ratio of 28.80. Manulife Financial has a 52-week low of C$41.08 and a 52-week high of C$55.34. The firm has a market cap of C$91.15 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.01 and a beta of 0.74. The company has a fifty day moving average of C$49.76 and a 200 day moving average of C$49.54.

Manulife Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, March 19th were given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, February 25th. Manulife Financial’s dividend payout ratio is 57.33%.

Wall Street Analysts Forecast Growth

MFC has been the subject of a number of analyst reports. Royal Bank Of Canada increased their price target on shares of Manulife Financial from C$52.00 to C$55.00 and gave the company an “outperform” rating in a report on Friday, February 13th. TD Securities lowered their price target on shares of Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating for the company in a report on Thursday, February 12th. National Bank Financial set a C$57.00 price target on shares of Manulife Financial and gave the company an “outperform” rating in a report on Friday, April 24th. Jefferies Financial Group increased their price target on shares of Manulife Financial from C$54.00 to C$58.00 in a report on Monday, February 2nd. Finally, Desjardins set a C$58.00 price objective on shares of Manulife Financial and gave the stock a “buy” rating in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$56.63.

Insiders Place Their Bets

In related news, Director Adam Thomas Wise sold 3,500 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of C$46.47, for a total value of C$162,645.00. Following the sale, the director directly owned 2,497 shares of the company’s stock, valued at C$116,035.59. This represents a 58.36% decrease in their position. 0.03% of the stock is owned by company insiders.

Manulife Financial Company Profile

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.