Manulife Financial Co. (TSE:MFC) Declares Quarterly Dividend of $0.40

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) declared a quarterly dividend on Wednesday, November 6th,RTT News reports. Investors of record on Wednesday, November 20th will be paid a dividend of 0.40 per share by the financial services provider on Thursday, December 19th. This represents a $1.60 annualized dividend and a dividend yield of 3.57%.

Manulife Financial Stock Performance

Shares of MFC stock opened at C$44.76 on Friday. The company has a market capitalization of C$79.23 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. Manulife Financial has a 52 week low of C$24.90 and a 52 week high of C$45.68. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68. The company’s 50 day moving average price is C$39.84 and its two-hundred day moving average price is C$36.88.

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. The business had revenue of C$12.88 billion for the quarter, compared to analyst estimates of C$12.27 billion. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. On average, analysts expect that Manulife Financial will post 3.6104452 earnings per share for the current fiscal year.

Insider Transactions at Manulife Financial

In other Manulife Financial news, Director Tin Ku sold 2,166 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the completion of the sale, the director now directly owns 253 shares in the company, valued at C$9,474.85. This trade represents a 0.00 % decrease in their ownership of the stock. In other news, Senior Officer Steve Finch sold 11,599 shares of the firm’s stock in a transaction that occurred on 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 Tin Ku sold 2,166 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total value of C$81,116.70. Following the sale, the director now directly owns 253 shares in the company, valued at C$9,474.85. This represents a 0.00 % decrease in their position. In the last 90 days, insiders sold 68,821 shares of company stock worth $2,455,596. 0.03% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. TD Securities boosted their price target on Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a report on Thursday. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Royal Bank of Canada raised their price target on shares of Manulife Financial from C$38.00 to C$39.00 in a research note on Friday, August 9th. National Bankshares lifted their price objective on shares of Manulife Financial from C$45.00 to C$47.00 in a report on Thursday. Finally, Scotiabank increased their target price on shares of Manulife Financial from C$41.00 to C$48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Manulife Financial has an average rating of “Moderate Buy” and an average target price of C$41.82.

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.