Manulife Financial Co. (TSE:MFC) Receives Average Rating of “Moderate Buy” from Brokerages

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$44.09.

Several analysts recently commented on the stock. Cormark lifted their target price on shares of Manulife Financial from C$47.00 to C$48.00 in a report on Thursday, November 21st. CIBC boosted their price objective on Manulife Financial from C$42.00 to C$46.00 in a report on Friday, November 8th. TD Securities increased their target price on Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Scotiabank boosted their price target on Manulife Financial from C$48.00 to C$49.00 in a research note on Friday, November 8th. Finally, National Bankshares lifted their target price on Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th.

Insiders Place Their Bets

In other news, Senior Officer Steve Finch sold 11,598 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of C$46.07, for a total transaction of C$534,308.26. Also, Director Anthony Alex Silva sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of C$45.22, for a total value of C$45,218.70. In the last ninety days, insiders sold 77,771 shares of company stock worth $3,508,584. Company insiders own 0.03% of the company’s stock.

Manulife Financial Trading Down 0.2 %

Manulife Financial stock opened at C$44.26 on Wednesday. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68. The stock has a 50-day simple moving average of C$44.49 and a 200 day simple moving average of C$40.32. The stock has a market capitalization of C$78.34 billion, a P/E ratio of 18.83, a PEG ratio of 1.01 and a beta of 1.06. Manulife Financial has a 52 week low of C$28.06 and a 52 week high of C$46.42.

Manulife Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were issued a $0.40 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $1.60 annualized dividend and a yield of 3.62%. Manulife Financial’s payout ratio is 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.