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

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have been assigned an average rating of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is C$36.30.

A number of analysts recently issued reports on the stock. National Bankshares increased their target price on shares of Manulife Financial from C$29.00 to C$33.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 15th. TD Securities lowered shares of Manulife Financial from an “action list buy” rating to a “buy” rating and lifted their price objective for the company from C$35.00 to C$37.00 in a research note on Wednesday, February 21st. Scotiabank lifted their price objective on shares of Manulife Financial from C$35.00 to C$40.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Desjardins upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$29.00 to C$36.00 in a research note on Friday, February 16th. Finally, Cormark raised shares of Manulife Financial from a “market perform” rating to a “buy” rating and raised their price target for the stock from C$33.00 to C$36.00 in a research report on Friday, February 16th.

Insiders Place Their Bets

In other Manulife Financial news, Senior Officer Steve Finch sold 10,294 shares of the firm’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$337,231.44. In other Manulife Financial news, Senior Officer Steve Finch sold 10,294 shares of the firm’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$337,231.44. Also, Director Brooks Tingle sold 3,317 shares of Manulife Financial stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total transaction of C$108,664.92. 0.02% of the stock is currently owned by corporate insiders.

Manulife Financial Stock Up 0.4 %

MFC opened at C$31.72 on Monday. The firm has a 50 day moving average price of C$32.55 and a 200 day moving average price of C$29.03. The company has a market cap of C$57.41 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 12.56 and a beta of 1.09. Manulife Financial has a 1 year low of C$23.69 and a 1 year high of C$34.05. The company has a debt-to-equity ratio of 45.69, a quick ratio of 2.58 and a current ratio of 3.79.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.08. The firm had revenue of C$14.92 billion during the quarter, compared to the consensus estimate of C$10.24 billion. Manulife Financial had a net margin of 20.05% and a return on equity of 11.57%. Sell-side analysts expect that Manulife Financial will post 3.6893764 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend was Tuesday, February 27th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.37. Manulife Financial’s payout ratio is currently 61.30%.

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.