Manulife Financial Co. (TSE:MFC) Receives C$43.45 Average Price Target from Analysts

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$43.45.

MFC has been the topic of several recent analyst reports. National Bankshares upped their target price on Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday, November 7th. Jefferies Financial Group increased their price objective on shares of 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. TD Securities boosted their target price on shares of Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays raised their price target on shares of Manulife Financial from C$39.00 to C$40.00 in a report on Friday, November 22nd. Finally, Scotiabank boosted their price objective on shares of Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th.

Insider Buying and Selling

In related news, Senior Officer James D. Gallagher sold 57,064 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total value of C$2,556,638.39. Also, Director Kenneth Michael Ross sold 4,243 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of C$45.80, for a total value of C$194,315.82. Insiders have sold a total of 77,771 shares of company stock valued at $3,508,584 over the last ninety days. Company insiders own 0.03% of the company’s stock.

Manulife Financial Price Performance

TSE MFC opened at C$44.29 on Friday. The firm’s fifty day simple moving average is C$43.91 and its two-hundred day simple moving average is C$39.44. The firm has a market capitalization of C$78.39 billion, a P/E ratio of 18.85, a P/E/G ratio of 1.01 and a beta of 1.06. 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 has a 12-month low of C$28.06 and a 12-month high of C$46.42.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.60 annualized dividend and a dividend yield of 3.61%. 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.