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

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) announced a quarterly dividend on Wednesday, November 20th,RTT News reports. Shareholders of record on Thursday, December 19th will be given a dividend of 0.40 per share by the financial services provider on Thursday, December 19th. This represents a $1.60 dividend on an annualized basis and a yield of ∞. The ex-dividend date of this dividend is Wednesday, November 20th.

Manulife Financial Price Performance

Manulife Financial has a 1 year low of C$26.01 and a 1 year high of C$46.42. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. The stock has a market capitalization of C$80.23 billion, a P/E ratio of 19.43, a P/E/G ratio of 1.01 and a beta of 1.06. The company has a 50 day simple moving average of C$40.99 and a two-hundred day simple moving average of C$37.53.

Insider Transactions at Manulife Financial

In other news, Senior Officer Steve Finch sold 11,598 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total value of C$534,308.26. Also, Director Brooks Tingle sold 3,866 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of C$46.07, for a total value of C$178,102.75. In the last ninety days, insiders sold 17,633 shares of company stock valued at $793,606. 0.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. TD Securities lifted their target price on Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group lifted their price objective on Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays set a C$39.00 price objective on Manulife Financial and gave the company an “equal weight” rating in a research note on Thursday, September 5th. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada lifted their price objective on Manulife Financial from C$38.00 to C$39.00 in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Manulife Financial currently has a consensus rating of “Moderate Buy” and an average price target of C$42.27.

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.