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

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) declared a quarterly dividend on Wednesday, May 8th, RTT News reports. Stockholders 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 Stock Up 1.0 %

Manulife Financial stock opened at C$33.60 on Thursday. The firm has a market capitalization of C$60.48 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 12.56 and a beta of 1.09. The company’s 50 day simple moving average is C$32.58 and its 200 day simple moving average is C$29.74. The company has a debt-to-equity ratio of 45.69, a current ratio of 3.79 and a quick ratio of 2.58. Manulife Financial has a fifty-two week low of C$23.69 and a fifty-two week high of C$34.05.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings data on Wednesday, February 14th. The financial services provider reported C$0.92 EPS for the quarter, topping the consensus estimate 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 business had revenue of C$14.92 billion for the quarter, compared to the consensus estimate of C$10.24 billion. As a group, sell-side analysts anticipate that Manulife Financial will post 3.6797312 EPS for the current year.

Analysts Set New Price Targets

MFC has been the subject of a number of recent research reports. Royal Bank of Canada upped their price target on Manulife Financial from C$34.00 to C$38.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. BMO Capital Markets increased their target price on shares of Manulife Financial from C$35.00 to C$40.00 in a report on Monday, April 8th. Cormark upgraded shares of Manulife Financial from a “market perform” rating to a “buy” rating and lifted their price target for the company from C$33.00 to C$36.00 in a research note on Friday, February 16th. TD Securities downgraded shares of Manulife Financial from an “action list buy” rating to a “buy” rating and increased their price objective for the stock from C$35.00 to C$37.00 in a research note on Wednesday, February 21st. Finally, National Bankshares lifted their target price on Manulife Financial from C$33.00 to C$34.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$36.40.

Insider Buying and Selling

In related news, Senior Officer Steve Finch sold 10,294 shares of Manulife Financial stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$337,231.44. In other news, Director Brooks Tingle sold 3,317 shares of the stock in a transaction dated Friday, February 23rd. The shares were 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 Manulife Financial stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total transaction of C$337,231.44. 0.02% of the stock is currently owned by company 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.