Manulife Financial Co. (TSE:MFC) to Issue Quarterly Dividend of $0.33

Manulife Financial Co. (TSE:MFCGet Rating) (NYSE:MFC) announced a quarterly dividend on Wednesday, May 11th, RTT News reports. Investors of record on Wednesday, May 25th will be given a dividend of 0.33 per share by the financial services provider on Monday, June 20th. This represents a $1.32 dividend on an annualized basis and a yield of 5.42%.

TSE:MFC opened at C$24.35 on Thursday. The company has a current ratio of 5.29, a quick ratio of 2.16 and a debt-to-equity ratio of 34.00. Manulife Financial has a 1-year low of C$22.76 and a 1-year high of C$28.09. The firm has a market capitalization of C$46.97 billion and a price-to-earnings ratio of 6.88. The business’s 50-day moving average price is C$25.87 and its two-hundred day moving average price is C$25.37.

Manulife Financial (TSE:MFCGet Rating) (NYSE:MFC) last announced its quarterly earnings results on Wednesday, February 9th. The financial services provider reported C$0.84 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.02. The firm had revenue of C$21.61 billion during the quarter. Sell-side analysts predict that Manulife Financial will post 23.1800008 earnings per share for the current year.

Several equities research analysts have weighed in on the stock. Zacks Investment Research reiterated a “hold” rating on shares of Manulife Financial in a report on Thursday, March 17th. Scotiabank decreased their target price on Manulife Financial from C$30.00 to C$28.00 in a research note on Monday, May 2nd. BMO Capital Markets increased their price target on Manulife Financial from C$35.00 to C$37.00 in a report on Friday, February 11th. Canaccord Genuity Group lifted their price objective on Manulife Financial from C$30.50 to C$31.50 in a report on Friday, February 11th. Finally, Evercore ISI reissued a “sell” rating on shares of Manulife Financial in a research note on Wednesday, January 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$30.04.

In other news, Senior Officer Steve Finch sold 12,895 shares of the stock in a transaction dated Friday, February 18th. The shares were sold at an average price of C$26.97, for a total transaction of C$347,838.76. Following the completion of the transaction, the insider now directly owns 9,183 shares in the company, valued at approximately C$247,708.67. Also, Director Michael James Doughty sold 21,246 shares of Manulife Financial stock in a transaction dated Friday, February 18th. The shares were sold at an average price of C$26.97, for a total value of C$573,104.48. Following the completion of the sale, the director now directly owns 5,545 shares in the company, valued at approximately C$149,574.71.

About Manulife Financial (Get Rating)

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.

Further Reading

Dividend History for Manulife Financial (TSE:MFC)

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