Manulife Financial Co. Plans Quarterly Dividend of $0.40 (TSE:MFC)

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) announced a quarterly dividend on Wednesday, May 8th, RTT News reports. Investors of record on Wednesday, May 22nd will be given a dividend of 0.40 per share by the financial services provider on Wednesday, June 19th. This represents a $1.60 annualized dividend and a dividend yield of 4.76%.

Manulife Financial Trading Up 1.0 %

Shares of Manulife Financial stock traded up C$0.33 during trading on Wednesday, reaching C$33.60. 8,443,587 shares of the company were exchanged, compared to its average volume of 6,140,543. The firm has a market capitalization of C$60.48 billion, a price-to-earnings ratio of 12.75, a P/E/G ratio of 12.56 and a beta of 1.09. Manulife Financial has a twelve month low of C$23.69 and a twelve month high of C$34.05. 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 business has a 50-day moving average price of C$32.58 and a 200-day moving average price of C$29.74.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings results on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of C$10.24 billion. Sell-side analysts anticipate that Manulife Financial will post 3.6797312 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on MFC. Royal Bank of Canada boosted their price target on shares of Manulife Financial from C$34.00 to C$38.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Desjardins upgraded Manulife Financial from a “hold” rating to a “buy” rating and raised their target price for the company from C$29.00 to C$36.00 in a research report on Friday, February 16th. Cormark raised Manulife Financial from a “market perform” rating to a “buy” rating and boosted their price objective for the stock from C$33.00 to C$36.00 in a research note on Friday, February 16th. CIBC raised their price objective on shares of Manulife Financial from C$30.00 to C$34.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Finally, BMO Capital Markets increased their price target on shares of Manulife Financial from C$35.00 to C$40.00 in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$36.40.

Insider Activity

In other Manulife Financial news, Director Brooks Tingle sold 3,317 shares of the company’s stock in a transaction 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. In other Manulife Financial news, Director Brooks Tingle sold 3,317 shares of the stock in a transaction dated 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 the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total value of C$337,231.44. Insiders own 0.02% 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.