Manulife Financial Co. (TSE:MFC) Stock Has Average Target Price of C$66.00 According to Analysts

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have earned a consensus recommendation of “Buy” from the twelve brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$66.00.

A number of analysts have weighed in on MFC shares. Canadian Imperial Bank of Commerce raised their price objective on shares of Manulife Financial from C$61.00 to C$69.00 in a research note on Wednesday, July 15th. Barclays raised their price target on shares of Manulife Financial from C$56.00 to C$59.00 and gave the company an “equal weight” rating in a research report on Thursday, August 6th. Royal Bank Of Canada boosted their price objective on shares of Manulife Financial from C$55.00 to C$67.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. BMO Capital Markets increased their target price on Manulife Financial from C$67.00 to C$70.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Finally, National Bank Financial lifted their target price on Manulife Financial from C$59.00 to C$69.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd.

Insider Buying and Selling at Manulife Financial

In other news, insider Patrick David Graham sold 6,843 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of C$62.06, for a total value of C$424,676.58. 0.03% of the stock is owned by insiders.

Manulife Financial Price Performance

Shares of Manulife Financial stock opened at C$61.31 on Friday. Manulife Financial has a 12-month low of C$43.73 and a 12-month high of C$63.58. The company has a current ratio of 2.36, a quick ratio of 2.58 and a debt-to-equity ratio of 26.52. The company’s fifty day simple moving average is C$61.04 and its two-hundred day simple moving average is C$56.44. The company has a market cap of C$101.58 billion, a P/E ratio of 16.62, a PEG ratio of 1.01 and a beta of 0.60.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported C$1.09 earnings per share (EPS) for the quarter. The company had revenue of C$20.34 billion during the quarter. Manulife Financial had a net margin of 11.62% and a return on equity of 12.98%. Research analysts anticipate that Manulife Financial will post 3.6104452 EPS for the current year.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Monday, September 21st were issued a dividend of $0.4850 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 21st. Manulife Financial’s payout ratio is presently 50.14%.

Manulife Financial Company Profile

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.