Manulife Financial Co. (TSE:MFC) Receives Consensus Rating of “Moderate Buy” from Analysts

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is C$45.60.

MFC has been the topic of several research reports. Barclays raised their price target on shares of Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th. Jefferies Financial Group lifted their target price on shares of Manulife Financial from C$50.00 to C$51.00 in a report on Thursday, January 30th. Cormark upped their price target on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. CIBC boosted their price objective on Manulife Financial from C$47.00 to C$48.00 in a research note on Friday, February 21st. Finally, TD Securities increased their target price on Manulife Financial from C$48.00 to C$49.00 and gave the company a “buy” rating in a research note on Thursday, February 20th.

Insider Buying and Selling at Manulife Financial

In related news, Director Brooks Tingle sold 3,866 shares of Manulife Financial stock in a transaction dated Monday, February 24th. The stock was sold at an average price of C$43.43, for a total value of C$167,882.21. Also, Senior Officer Steve Finch sold 11,598 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of C$43.43, for a total value of C$503,646.63. Insiders have sold a total of 18,683 shares of company stock valued at $816,102 in the last three months. Corporate insiders own 0.03% of the company’s stock.

Manulife Financial Price Performance

Shares of TSE:MFC opened at C$41.21 on Thursday. The business has a 50-day moving average of C$43.38 and a two-hundred day moving average of C$42.23. The firm has a market capitalization of C$72.28 billion, a PE ratio of 12.82, a P/E/G ratio of 1.01 and a beta of 1.06. Manulife Financial has a 12 month low of C$31.24 and a 12 month high of C$46.42.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 19th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.40. Manulife Financial’s dividend payout ratio (DPR) is 49.79%.

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.