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

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have earned a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is C$39.18.

Several research analysts have recently commented on MFC shares. Royal Bank of Canada lifted their target price on Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. TD Securities boosted their target price on shares of Manulife Financial from C$40.00 to C$41.00 in a research note on Friday, July 12th. Jefferies Financial Group reduced their price target on shares of Manulife Financial from C$43.00 to C$42.00 in a research report on Thursday, July 18th. National Bankshares boosted their price objective on shares of Manulife Financial from C$38.00 to C$43.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Scotiabank raised their target price on shares of Manulife Financial from C$40.00 to C$41.00 in a report on Friday, August 9th.

Insider Transactions at Manulife Financial

In related news, Director Rocco Gori sold 48,345 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total value of C$1,727,395.86. In related news, Director Tin Ku sold 2,166 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the completion of the sale, the director now directly owns 253 shares in the company, valued at approximately C$9,474.85. This trade represents a 0.00 % decrease in their ownership of the stock. Also, Director Rocco Gori sold 48,345 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total value of C$1,727,395.86. Insiders sold a total of 68,821 shares of company stock valued at $2,455,596 in the last three months. 0.03% of the stock is currently owned by corporate insiders.

Manulife Financial Trading Up 1.1 %

MFC opened at C$41.82 on Monday. Manulife Financial has a 12-month low of C$23.69 and a 12-month high of C$42.03. 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$74.02 billion, a PE ratio of 17.61, a P/E/G ratio of 12.56 and a beta of 1.05. The firm’s fifty day moving average price is C$37.47 and its 200 day moving average price is C$35.69.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 EPS for the quarter, topping the consensus estimate of C$0.88 by C$0.03. The business had revenue of C$12.88 billion for the quarter, compared to analysts’ expectations of C$12.27 billion. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. As a group, research analysts expect that Manulife Financial will post 4.001004 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 21st were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend was Wednesday, August 21st. Manulife Financial’s dividend payout ratio is presently 68.09%.

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.