Brokerages Set Manulife Financial Co. (TSE:MFC) Price Target at C$43.45

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have received an average rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is C$43.45.

Several equities research analysts have weighed in on MFC shares. Scotiabank increased their price target on Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. Barclays lifted their price target on Manulife Financial from C$39.00 to C$40.00 in a research report on Friday, November 22nd. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. National Bankshares raised their price objective on shares of Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday, November 7th. Finally, Jefferies Financial Group boosted their target price on shares of Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th.

Insider Buying and Selling

In other news, Director Tin Ku sold 2,166 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total value of C$81,116.70. Following the completion of the sale, the director now directly owns 253 shares in the company, valued at C$9,474.85. This represents a 89.54 % decrease in their ownership of the stock. Also, Director Anthony Alex Silva sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of C$45.22, for a total transaction of C$45,218.70. Insiders sold a total of 75,694 shares of company stock worth $3,395,385 in the last 90 days. Insiders own 0.03% of the company’s stock.

Manulife Financial Stock Up 0.7 %

TSE:MFC opened at C$45.37 on Tuesday. 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 company’s fifty day moving average price is C$42.30 and its 200-day moving average price is C$38.24. Manulife Financial has a 1-year low of C$26.50 and a 1-year high of C$46.42. The firm has a market capitalization of C$80.30 billion, a P/E ratio of 19.31, a PEG ratio of 1.01 and a beta of 1.06.

Manulife Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.53%. Manulife Financial’s dividend payout ratio is currently 68.09%.

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.