Manulife Financial Co. (TSE:MFC) Given Average Recommendation of “Buy” by Analysts

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has been given an average recommendation of “Buy” by the twelve analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is C$66.00.

MFC has been the subject of several recent analyst reports. Scotia lifted their price target on Manulife Financial from C$61.00 to C$67.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 7th. Desjardins increased their price objective on shares of Manulife Financial from C$63.00 to C$68.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Scotiabank raised their price objective on shares of Manulife Financial from C$56.00 to C$61.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 15th. TD lifted their target price on shares of Manulife Financial from C$65.00 to C$67.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Barclays lifted their target price on shares of Manulife Financial from C$56.00 to C$59.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th.

Insiders Place Their Bets

In related news, insider Patrick David Graham sold 6,843 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of C$62.06, for a total value of C$424,676.58. 0.03% of the stock is currently owned by insiders.

Manulife Financial Stock Performance

Manulife Financial stock opened at C$60.28 on Monday. The company has a quick ratio of 2.58, a current ratio of 2.36 and a debt-to-equity ratio of 26.52. The company has a market capitalization of C$99.87 billion, a P/E ratio of 16.34, a PEG ratio of 1.01 and a beta of 0.60. The stock’s 50 day moving average is C$60.50 and its 200 day moving average is C$54.91. Manulife Financial has a twelve month low of C$42.53 and a twelve month high of C$63.58.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported C$1.09 earnings per share (EPS) for the quarter. Manulife Financial had a return on equity of 12.98% and a net margin of 11.62%.The business had revenue of C$20.34 billion during the quarter. On average, equities research analysts predict that Manulife Financial will post 3.6104452 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Monday, September 21st will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.94 annualized dividend and a dividend yield of 3.2%. Manulife Financial’s dividend payout ratio (DPR) is 50.14%.

About Manulife Financial

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.