Manulife Financial Co. (TSE:MFC) Given Average Recommendation of “Moderate Buy” by Brokerages

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$35.80.

Several equities analysts have recently commented on the company. CIBC increased their price objective on Manulife Financial from C$30.00 to C$34.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Evercore lifted their price target on shares of Manulife Financial from C$30.00 to C$36.00 in a research note on Tuesday, February 20th. National Bankshares upped their price objective on shares of Manulife Financial from C$29.00 to C$33.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. Cormark upgraded shares of Manulife Financial from a “market perform” rating to a “buy” rating and lifted their target price for the stock from C$33.00 to C$36.00 in a research report on Friday, February 16th. Finally, Veritas Investment Research restated a “reduce” rating on shares of Manulife Financial in a research report on Friday, February 16th.

Manulife Financial Stock Up 1.0 %

MFC stock opened at C$32.98 on Thursday. Manulife Financial has a twelve month low of C$23.69 and a twelve month high of C$33.59. The company has a quick ratio of 2.58, a current ratio of 3.79 and a debt-to-equity ratio of 45.69. The firm has a market capitalization of C$59.69 billion, a PE ratio of 12.64, a PEG ratio of 12.56 and a beta of 1.10. The stock has a 50-day simple moving average of C$31.19 and a two-hundred day simple moving average of C$28.06.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings data on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share for the quarter, topping the consensus estimate of C$0.84 by C$0.08. Manulife Financial had a net margin of 20.05% and a return on equity of 11.57%. The company had revenue of C$14.92 billion for the quarter, compared to analysts’ expectations of C$10.24 billion. On average, equities analysts predict that Manulife Financial will post 3.6849162 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, February 28th were paid a $0.40 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, February 27th. This represents a $1.60 dividend on an annualized basis and a yield of 4.85%. Manulife Financial’s dividend payout ratio (DPR) is presently 61.30%.

Insider Buying and Selling at Manulife Financial

In other news, Director Brooks Tingle sold 3,317 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$108,664.92. In other news, Director Brooks Tingle sold 3,317 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total value of C$108,664.92. Also, Senior Officer Steve Finch sold 10,294 shares of Manulife Financial stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$337,231.44. Insiders own 0.03% of the company’s stock.

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.