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

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has been given an average rating of “Moderate Buy” by the ten analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$37.30.

MFC has been the subject of a number of research reports. CIBC upped their price objective on shares of Manulife Financial from C$34.00 to C$36.00 in a research note on Friday, May 10th. Evercore upped their price objective on shares of Manulife Financial from C$36.00 to C$37.00 in a research note on Friday, May 10th. Veritas Investment Research reaffirmed a “reduce” rating on shares of Manulife Financial in a research note on Friday, February 16th. National Bank Financial raised shares of Manulife Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a research report on Wednesday, May 8th. Finally, Desjardins raised shares of Manulife Financial from a “hold” rating to a “buy” rating and increased their price target for the company from C$29.00 to C$36.00 in a research report on Friday, February 16th.

Manulife Financial Price Performance

MFC stock opened at C$36.11 on Tuesday. The company has a debt-to-equity ratio of 48.44, a current ratio of 29.14 and a quick ratio of 2.58. Manulife Financial has a one year low of C$23.69 and a one year high of C$36.61. The stock has a market cap of C$65.00 billion, a PE ratio of 15.84, a P/E/G ratio of 12.56 and a beta of 1.10. The firm has a 50 day simple moving average of C$33.97 and a two-hundred day simple moving average of C$31.49.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported C$0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.90 by C$0.04. Manulife Financial had a net margin of 18.29% and a return on equity of 10.48%. The company had revenue of C$12.80 billion during the quarter, compared to analysts’ expectations of C$12.13 billion. On average, analysts predict that Manulife Financial will post 3.6078629 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd will be issued a $0.40 dividend. The ex-dividend date is Tuesday, May 21st. This represents a $1.60 annualized dividend and a yield of 4.43%. Manulife Financial’s dividend payout ratio (DPR) is presently 70.18%.

Insiders Place Their Bets

In other Manulife Financial news, Director Rocco Gori sold 48,640 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of C$35.25, for a total value of C$1,714,560.00. In related news, Director Rocco Gori sold 48,640 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of C$35.25, for a total value of C$1,714,560.00. Also, Director Philip James Witherington sold 97,640 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of C$35.17, for a total transaction of C$3,433,852.34. In the last ninety days, insiders sold 157,878 shares of company stock worth $5,557,706. 0.02% of the stock is currently owned by corporate insiders.

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.