Manulife Financial Co. (TSE:MFC) Receives C$39.18 Average Price Target from Brokerages

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is C$39.18.

MFC has been the topic of several analyst reports. Royal Bank of Canada upped their price objective on Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. TD Securities upped their price objective on Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, July 12th. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Scotiabank increased their price target on Manulife Financial from C$40.00 to C$41.00 in a report on Friday, August 9th. Finally, National Bankshares increased their price target on Manulife Financial from C$38.00 to C$43.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st.

Insider Transactions at Manulife Financial

In other news, Director Rocco Gori sold 48,345 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total value of C$1,727,395.86. In other Manulife Financial news, Director Matthew Lyman Macinnis sold 6,708 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total value of C$232,566.36. Also, Director Rocco Gori sold 48,345 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total value of C$1,727,395.86. Insiders sold 68,821 shares of company stock worth $2,455,596 in the last three months. Corporate insiders own 0.03% of the company’s stock.

Manulife Financial Stock Performance

Shares of MFC opened at C$38.44 on Thursday. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60. The business’s 50 day moving average price is C$36.18 and its 200-day moving average price is C$34.81. Manulife Financial has a 52 week low of C$23.69 and a 52 week high of C$38.49. The stock has a market cap of C$68.42 billion, a P/E ratio of 16.36, a P/E/G ratio of 12.56 and a beta of 1.05.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.88 by C$0.03. The business had revenue of C$12.88 billion for the quarter, compared to analysts’ expectations of C$12.27 billion. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. Equities research analysts anticipate that Manulife Financial will post 4.0413943 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.60 annualized dividend and a dividend yield of 4.16%. Manulife Financial’s dividend payout ratio (DPR) is 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.