Manulife Financial Co. (TSE:MFC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$36.90.

A number of equities research analysts have recently weighed in on the stock. Evercore boosted their price objective on shares of Manulife Financial from C$30.00 to C$36.00 in a report on Tuesday, February 20th. Cormark upgraded shares of Manulife Financial from a “market perform” rating to a “buy” rating and upped their price objective for the stock from C$33.00 to C$36.00 in a report on Friday, February 16th. Scotiabank upped their price target on Manulife Financial from C$35.00 to C$40.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. BMO Capital Markets lifted their price objective on Manulife Financial from C$35.00 to C$40.00 in a research note on Monday, April 8th. Finally, TD Securities raised their price target on Manulife Financial from C$37.00 to C$38.00 and gave the company a “buy” rating in a report on Thursday.

Manulife Financial Stock Up 4.7 %

MFC stock opened at C$35.19 on Friday. The company has a current ratio of 3.79, a quick ratio of 2.58 and a debt-to-equity ratio of 45.69. Manulife Financial has a 1-year low of C$23.69 and a 1-year high of C$35.26. The stock has a market cap of C$63.34 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 12.56 and a beta of 1.09. The company’s 50 day moving average is C$32.61 and its 200 day moving average is C$29.76.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings data on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.08. Manulife Financial had a net margin of 20.05% and a return on equity of 11.57%. The company had revenue of C$14.92 billion during the quarter, compared to the consensus estimate of C$10.24 billion. Sell-side analysts predict that Manulife Financial will post 3.6797312 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.55%. Manulife Financial’s dividend payout ratio is presently 61.30%.

Insider Activity

In related news, Senior Officer Steve Finch sold 10,294 shares of the firm’s 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. In other Manulife Financial news, Senior Officer Steve Finch sold 10,294 shares of the company’s 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 transaction of C$337,231.44. Also, Director Brooks Tingle sold 3,317 shares of the company’s stock in a transaction 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. 0.02% of the stock is owned by corporate insiders.

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.