Manulife Financial Co. (TSE:MFC) to Issue 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 given a dividend of 0.40 per share by the financial services provider on Thursday, December 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.67%.

Manulife Financial Trading Up 5.0 %

TSE MFC opened at C$43.57 on Thursday. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. The firm’s fifty day moving average price is C$39.84 and its 200 day moving average price is C$36.88. The company has a market capitalization of C$77.12 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. Manulife Financial has a 12 month low of C$24.90 and a 12 month high of C$43.77.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 EPS for the quarter, beating analysts’ consensus estimates of C$0.88 by C$0.03. The firm had revenue of C$12.88 billion for the quarter, compared to the consensus estimate of C$12.27 billion. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. On average, sell-side analysts expect that Manulife Financial will post 3.6104452 earnings per share for the current fiscal year.

Insider Activity at Manulife Financial

In related news, Director Tin Ku sold 2,166 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total value of C$81,116.70. Following the completion of the sale, the director now 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 Manulife Financial news, Director Matthew Lyman Macinnis sold 6,708 shares of Manulife Financial 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. Also, Director Tin Ku sold 2,166 shares of Manulife Financial stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the transaction, the director now owns 253 shares of the company’s stock, valued at approximately C$9,474.85. The trade was a 0.00 % decrease in their position. Insiders sold 68,821 shares of company stock worth $2,455,596 over the last 90 days. Company insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

MFC has been the topic of several research reports. Royal Bank of Canada raised their price objective on shares of Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. TD Securities raised their price objective on shares of Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, July 12th. CIBC raised their price objective on shares of Manulife Financial from C$36.00 to C$42.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. National Bankshares raised their price objective on shares of Manulife Financial from C$38.00 to C$43.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Scotiabank raised 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 research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Manulife Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of C$40.82.

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.