Manulife Financial Co. (TSE:MFC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has earned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$36.90.

A number of analysts have recently weighed in on the stock. CIBC raised their price target on shares of Manulife Financial from C$30.00 to C$34.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Scotiabank boosted their target price on shares of Manulife Financial from C$35.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. TD Securities increased their price target on shares of Manulife Financial from C$37.00 to C$38.00 and gave the stock a “buy” rating in a research report on Thursday. National Bankshares raised Manulife Financial from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$34.00 to C$38.00 in a report on Thursday. Finally, Royal Bank of Canada upped their price objective on Manulife Financial from C$34.00 to C$38.00 and gave the company an “outperform” rating in a research note on Friday, February 16th.

Insider Transactions at Manulife Financial

In other news, Director Brooks Tingle sold 3,317 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$108,664.92. In other news, Senior Officer Steve Finch sold 10,294 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$337,231.44. Also, Director Brooks Tingle sold 3,317 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total value of C$108,664.92. Insiders own 0.02% of the company’s stock.

Manulife Financial Stock Performance

Shares of MFC stock opened at C$35.19 on Friday. The company has a debt-to-equity ratio of 45.69, a current ratio of 3.79 and a quick ratio of 2.58. The company’s fifty day moving average price is C$32.61 and its two-hundred day moving average price is C$29.76. The firm has a market capitalization of C$63.34 billion, a P/E ratio of 13.48, a P/E/G ratio of 12.56 and a beta of 1.09. Manulife Financial has a 12 month low of C$23.69 and a 12 month high of C$35.26.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings results on Wednesday, February 14th. The financial services provider reported C$0.92 EPS for the quarter, topping the consensus estimate of C$0.84 by C$0.08. Manulife Financial had a return on equity of 11.57% and a net margin of 20.05%. The business had revenue of C$14.92 billion for the quarter, compared to analysts’ expectations of C$10.24 billion. On average, research analysts anticipate that Manulife Financial will post 3.6797312 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.55%. Manulife Financial’s dividend payout ratio (DPR) is 61.30%.

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.