Manulife Financial Co. (TSE:MFC) Stock Has Average Target Price of C$66.00

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has been given an average rating of “Buy” by the twelve analysts that are covering the company, MarketBeat reports. One 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 price objective among analysts that have covered the stock in the last year is C$66.00.

A number of equities analysts have recently weighed in on the company. National Bank Financial increased their price target on Manulife Financial from C$59.00 to C$69.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. BMO Capital Markets upped their target price on shares of Manulife Financial from C$67.00 to C$70.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. TD upped their target price on shares of Manulife Financial from C$65.00 to C$67.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Canadian Imperial Bank of Commerce increased their target price on shares of Manulife Financial from C$61.00 to C$69.00 in a research note on Wednesday, July 15th. Finally, Jefferies Financial Group lifted their price target on shares of Manulife Financial from C$61.00 to C$70.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st.

Insiders Place Their Bets

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

Manulife Financial Trading Down 0.4%

MFC opened at C$61.04 on Friday. Manulife Financial has a one year low of C$44.16 and a one year high of C$63.58. The stock has a market capitalization of C$101.13 billion, a PE ratio of 16.54, a P/E/G ratio of 1.01 and a beta of 0.59. The business’s 50 day moving average price is C$60.98 and its 200 day moving average price is C$56.64. The company has a debt-to-equity ratio of 26.52, a quick ratio of 2.58 and a current ratio of 2.36.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results 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 company had revenue of C$20.34 billion during the quarter. As a group, equities research analysts expect that Manulife Financial will post 3.6104452 EPS for the current year.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 21st. Investors of record on Monday, September 21st were given a dividend of $0.4850 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.2%. Manulife Financial’s dividend payout ratio (DPR) is presently 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.