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 rating of “Moderate Buy” by the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$45.40.

A number of equities analysts have recently weighed in on the company. Scotiabank boosted their price target on Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. TD Securities boosted their price target on Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. National Bankshares boosted their price target on Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Cormark boosted their price target on Manulife Financial from C$47.00 to C$48.00 in a report on Thursday, November 21st. Finally, Jefferies Financial Group upped their target price on Manulife Financial from C$50.00 to C$51.00 in a research note on Thursday, January 30th.

Insider Buying and Selling at Manulife Financial

In other news, Director Kenneth Michael Ross sold 4,243 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of C$45.80, for a total value of C$194,315.82. Also, Director Anthony Alex Silva sold 1,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of C$45.22, for a total value of C$45,218.70. Over the last 90 days, insiders sold 62,307 shares of company stock valued at $2,796,173. Company insiders own 0.03% of the company’s stock.

Manulife Financial Stock Up 0.0 %

TSE MFC opened at C$42.07 on Friday. Manulife Financial has a fifty-two week low of C$31.24 and a fifty-two week high of C$46.42. The stock has a market cap of C$73.79 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The business has a fifty day moving average of C$43.66 and a 200-day moving average of C$41.28.

Manulife Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Wednesday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is presently 49.79%.

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.