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

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$39.18.

A number of research analysts have weighed in on MFC shares. National Bankshares lifted their price target on shares of Manulife Financial from C$38.00 to C$43.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Barclays set a C$39.00 price target on shares of Manulife Financial and gave the company an “equal weight” rating in a research note on Thursday, September 5th. Jefferies Financial Group cut their price target on shares of Manulife Financial from C$43.00 to C$42.00 in a research note on Thursday, July 18th. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Finally, TD Securities raised their target price on shares of Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, July 12th.

Manulife Financial Stock Up 0.2 %

Manulife Financial stock opened at C$38.49 on Thursday. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 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$38.73. The company’s 50 day simple moving average is C$36.24 and its 200 day simple moving average is C$34.88. The firm has a market capitalization of C$68.51 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 12.56 and a beta of 1.05.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.88 by C$0.03. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. The firm had revenue of C$12.88 billion for the quarter, compared to analyst estimates of C$12.27 billion. As a group, sell-side analysts anticipate that Manulife Financial will post 4.0413943 EPS for the current year.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend is Wednesday, August 21st. Manulife Financial’s payout ratio is 68.09%.

Insider Activity at Manulife Financial

In related news, Director Matthew Lyman Macinnis sold 6,708 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of C$34.67, for a total value of C$232,566.36. In related news, Director Matthew Lyman Macinnis sold 6,708 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of C$34.67, for a total value of C$232,566.36. Also, Director Rocco Gori sold 48,345 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total transaction of C$1,727,395.86. In the last ninety days, insiders sold 68,821 shares of company stock worth $2,455,596. Insiders own 0.03% of the company’s stock.

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.