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

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have been given an average recommendation of “Moderate Buy” by the thirteen research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$40.82.

Several research analysts recently commented on the company. Barclays set a C$39.00 price target on Manulife Financial and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. Royal Bank of Canada boosted their target price on Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. CIBC raised their price target on Manulife Financial from C$36.00 to C$42.00 and gave the stock a “neutral” rating in a research report on Wednesday. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group increased their target price on shares of Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th.

Insider Buying and Selling at Manulife Financial

In other Manulife Financial news, Director Matthew Lyman Macinnis sold 6,708 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of C$34.67, for a total transaction of C$232,566.36. In other news, Senior Officer Steve Finch sold 11,599 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total transaction of C$414,439.23. Also, Director Matthew Lyman Macinnis sold 6,708 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total transaction of C$232,566.36. Insiders sold a total of 68,821 shares of company stock valued at $2,455,596 in the last ninety days. Corporate insiders own 0.03% of the company’s stock.

Manulife Financial Trading Down 2.4 %

MFC stock opened at C$40.67 on Friday. The firm has a fifty day moving average price of C$39.41 and a 200 day moving average price of C$36.55. Manulife Financial has a fifty-two week low of C$24.04 and a fifty-two week high of C$42.52. The firm has a market cap of C$71.99 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.91 EPS for the quarter, topping analysts’ consensus estimates of C$0.88 by C$0.03. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. The business had revenue of C$12.88 billion during the quarter, compared to analysts’ expectations of C$12.27 billion. Sell-side analysts anticipate that Manulife Financial will post 3.6104452 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 21st were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.60 annualized dividend and a yield of 3.93%. Manulife Financial’s dividend payout ratio (DPR) is currently 68.09%.

Manulife Financial Company Profile

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.