Manulife Financial Co. (TSE:MFC) Receives C$40.82 Consensus Target Price from Brokerages

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$41.82.

A number of research firms have commented on MFC. Barclays set a C$39.00 target price on Manulife Financial and gave the stock an “equal weight” rating in a report on Thursday, September 5th. TD Securities lifted their target price on Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a report on Thursday. Scotiabank lifted their target price on Manulife Financial from C$41.00 to C$48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their target price on Manulife Financial from C$38.00 to C$39.00 in a report on Friday, August 9th. Finally, National Bankshares lifted their target price on Manulife Financial from C$45.00 to C$47.00 in a report on Thursday.

Insider Activity at Manulife Financial

In related news, Director Tin Ku sold 2,166 shares of Manulife Financial stock in a transaction on 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 directly owns 253 shares in the company, valued at approximately C$9,474.85. The trade was a 0.00 % decrease in their ownership of the stock. In other news, Director Matthew Lyman Macinnis sold 6,708 shares of the business’s stock in a transaction dated 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 Tin Ku sold 2,166 shares of the business’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 transaction, the director now owns 253 shares in the company, valued at C$9,474.85. The trade was a 0.00 % decrease in their ownership of the stock. Over the last three months, insiders have sold 68,821 shares of company stock worth $2,455,596. Corporate insiders own 0.03% of the company’s stock.

Manulife Financial Stock Up 2.7 %

Shares of TSE:MFC opened at C$44.76 on Friday. The stock has a fifty day simple moving average of C$39.84 and a two-hundred day simple moving average of C$36.88. The stock has a market capitalization of C$79.23 billion, a price-to-earnings ratio of 19.07, a PEG 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$45.68. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.88 by C$0.03. The business had revenue of C$12.88 billion during 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%. On average, research analysts anticipate that Manulife Financial will post 3.6104452 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.57%. Manulife Financial’s dividend payout ratio (DPR) is presently 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.