Manulife Financial Co. (TSE:MFC) Receives C$45.60 Average PT from Brokerages

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$45.60.

A number of analysts recently weighed in on the stock. TD Securities upped their price objective on shares of Manulife Financial from C$48.00 to C$49.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. CIBC upped their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a research note on Friday, February 21st. Barclays upped their price objective on shares of Manulife Financial from C$40.00 to C$47.00 in a research note on Monday, January 6th. Cormark upped their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st. Finally, Jefferies Financial Group upped their price objective on shares of Manulife Financial from C$50.00 to C$51.00 in a research note on Thursday, January 30th.

Insiders Place Their Bets

In other news, Director Kenneth Michael Ross sold 3,219 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of C$44.91, for a total transaction of C$144,572.68. Also, Director Brooks Tingle sold 3,866 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of C$43.43, for a total transaction of C$167,882.21. Over the last ninety days, insiders sold 18,683 shares of company stock worth $816,102. 0.03% of the stock is owned by corporate insiders.

Manulife Financial Trading Up 1.9 %

Shares of MFC opened at C$42.06 on Thursday. Manulife Financial has a 12-month low of C$31.24 and a 12-month high of C$46.42. The firm has a fifty day moving average price of C$43.28 and a 200-day moving average price of C$42.32. The firm has a market capitalization of C$73.77 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.01 and a beta of 1.06.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 19th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 4.18%. Manulife Financial’s payout ratio is currently 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.