Manulife Financial Co. (TSE:MFC) Given Consensus Recommendation of “Hold” by Brokerages

Manulife Financial Co. (TSE:MFCGet Rating) (NYSE:MFC) has been assigned a consensus rating of “Hold” from the eleven analysts that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$26.17.

A number of equities research analysts have commented on MFC shares. Canaccord Genuity Group raised their target price on shares of Manulife Financial from C$23.50 to C$24.50 in a research note on Friday, November 11th. National Bankshares decreased their target price on shares of Manulife Financial from C$25.00 to C$24.00 in a research note on Friday, October 28th. Evercore ISI decreased their target price on shares of Manulife Financial to C$24.00 and set a “hold” rating on the stock in a research note on Monday, October 31st. Scotiabank raised shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, July 27th. Finally, Barclays cut their price objective on shares of Manulife Financial from C$29.00 to C$28.00 in a report on Friday, November 11th.

Manulife Financial Price Performance

Shares of TSE:MFC opened at C$23.80 on Thursday. The firm’s 50 day moving average price is C$22.39 and its 200-day moving average price is C$22.75. Manulife Financial has a twelve month low of C$20.81 and a twelve month high of C$28.09. The company has a quick ratio of 2.58, a current ratio of 7.04 and a debt-to-equity ratio of 44.70. The stock has a market capitalization of C$44.83 billion and a PE ratio of 6.35.

Manulife Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Tuesday, November 22nd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.55%. The ex-dividend date of this dividend is Monday, November 21st. Manulife Financial’s payout ratio is 35.20%.

Insider Transactions at Manulife Financial

In other news, Senior Officer Steve Finch sold 13,926 shares of Manulife Financial stock in a transaction on Monday, November 14th. The stock was sold at an average price of C$23.43, for a total transaction of C$326,340.49. Following the completion of the sale, the insider now directly owns 17,618 shares in the company, valued at C$412,858.45. In other news, Director Simonetta Vendittelli sold 3,090 shares of Manulife Financial stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of C$23.58, for a total transaction of C$72,867.86. Following the completion of the sale, the director now directly owns 1,079 shares in the company, valued at C$25,444.80. Also, Senior Officer Steve Finch sold 13,926 shares of Manulife Financial stock in a transaction on Monday, November 14th. The stock was sold at an average price of C$23.43, for a total value of C$326,340.49. Following the sale, the insider now owns 17,618 shares of the company’s stock, valued at C$412,858.45.

Manulife Financial Company Profile

(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.

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Analyst Recommendations for Manulife Financial (TSE:MFC)

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