Manulife Financial Co. (TSE:MFC) Receives C$39.18 Consensus Target Price from Analysts

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has been given an average recommendation of “Moderate Buy” by the twelve brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$39.18.

Several research analysts have issued reports on the company. Jefferies Financial Group dropped their target price on Manulife Financial from C$43.00 to C$42.00 in a research report on Thursday, July 18th. Royal Bank of Canada lifted their price target on shares of Manulife Financial from C$38.00 to C$39.00 in a research note on Friday, August 9th. National Bankshares lifted their price target on shares of Manulife Financial from C$38.00 to C$43.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. TD Securities lifted their price target on shares of Manulife Financial from C$40.00 to C$41.00 in a research note on Friday, July 12th. Finally, Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th.

Insiders Place Their Bets

In other Manulife Financial news, Director Matthew Lyman Macinnis sold 6,708 shares of the stock in a transaction dated 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 other news, Director Rocco Gori sold 48,345 shares of the 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 value of C$1,727,395.86. Also, Director Matthew Lyman Macinnis sold 6,708 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total transaction of C$232,566.36. Over the last quarter, insiders sold 68,821 shares of company stock worth $2,455,596. Company insiders own 0.03% of the company’s stock.

Manulife Financial Trading Up 0.8 %

MFC opened at C$38.44 on Thursday. The firm has a market cap of C$68.42 billion, a P/E ratio of 16.36, a P/E/G ratio of 12.56 and a beta of 1.05. Manulife Financial has a 12 month low of C$23.69 and a 12 month high of C$38.49. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. The stock has a 50-day moving average of C$36.18 and a 200 day moving average of C$34.81.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.88 by C$0.03. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. The business had revenue of C$12.88 billion during the quarter, compared to analyst estimates of C$12.27 billion. As a group, research analysts forecast that Manulife Financial will post 4.0413943 EPS for the current year.

Manulife Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st will be given a $0.40 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.16%. Manulife Financial’s dividend payout ratio (DPR) is currently 68.09%.

About Manulife Financial

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.