Manulife Financial Co. (MFC) to Distribute Quarterly Dividend of $0.40 on December 19th

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 paid 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 3.57%.

Manulife Financial Stock Up 2.7 %

MFC opened at C$44.76 on Friday. Manulife Financial has a fifty-two week low of C$24.90 and a fifty-two week high of C$45.68. The company has a market capitalization of C$79.23 billion, a P/E ratio of 19.05, a P/E/G ratio of 1.01 and a beta of 1.06. 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 two-hundred day moving average price is C$36.88.

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

Analyst Upgrades and Downgrades

MFC has been the topic of several analyst reports. National Bankshares upped their price objective on Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday. Jefferies Financial Group upped their price target on Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. CIBC upped their target price on shares of Manulife Financial from C$36.00 to C$42.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their target price on shares of Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$41.82.

Insider Buying and Selling at Manulife Financial

In other news, Director Rocco Gori sold 48,345 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total transaction of C$1,727,395.86. In other news, Director Rocco Gori sold 48,345 shares of Manulife Financial stock in a transaction on Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total value of C$1,727,395.86. Also, Director Matthew Lyman Macinnis sold 6,708 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of C$34.67, for a total value of C$232,566.36. In the last 90 days, insiders sold 68,821 shares of company stock worth $2,455,596. 0.03% of the stock is currently owned by corporate insiders.

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.