Brokerages Set Manulife Financial Co. (TSE:MFC) Price Target at C$35.80

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has earned an average recommendation of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is C$35.80.

MFC has been the subject of a number of analyst reports. Cormark raised Manulife Financial from a “market perform” rating to a “buy” rating and raised their price objective for the company from C$33.00 to C$36.00 in a research report on Friday, February 16th. Royal Bank of Canada raised their price objective on Manulife Financial from C$34.00 to C$38.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Veritas Investment Research reissued a “reduce” rating on shares of Manulife Financial in a report on Friday, February 16th. Scotiabank lifted their target price on Manulife Financial from C$35.00 to C$40.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Finally, TD Securities lowered Manulife Financial from an “action list buy” rating to a “buy” rating and lifted their target price for the stock from C$35.00 to C$37.00 in a report on Wednesday, February 21st.

Insider Buying and Selling

In related news, Director Brooks Tingle sold 3,317 shares of Manulife Financial stock in a transaction on Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$108,664.92. In related news, Senior Officer Steve Finch sold 10,294 shares of Manulife Financial stock in a transaction on Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$337,231.44. Also, Director Brooks Tingle sold 3,317 shares of Manulife Financial stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$108,664.92. 0.03% of the stock is currently owned by corporate insiders.

Manulife Financial Trading Up 1.8 %

MFC opened at C$33.43 on Thursday. Manulife Financial has a 52 week low of C$23.69 and a 52 week 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 stock has a market cap of C$60.51 billion, a PE ratio of 12.81, a PEG ratio of 12.56 and a beta of 1.10. The business has a 50 day moving average of C$31.36 and a 200-day moving average of C$28.17.

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, beating analysts’ consensus estimates of C$0.84 by C$0.08. Manulife Financial had a return on equity of 11.57% and a net margin of 20.05%. The company had revenue of C$14.92 billion during the quarter, compared to analyst estimates of C$10.24 billion. Equities research analysts predict that Manulife Financial will post 3.6849162 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, February 28th were issued a $0.40 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $1.60 annualized dividend and a dividend yield of 4.79%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.37. Manulife Financial’s payout ratio is presently 61.30%.

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.