Brokerages Set Manulife Financial Co. (TSE:MFC) Price Target at C$55.63

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has received an average rating of “Buy” from the eight analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$55.63.

MFC has been the subject of several research analyst reports. Desjardins set a C$55.00 price target on shares of Manulife Financial and gave the company a “buy” rating in a report on Thursday, December 18th. Royal Bank Of Canada raised their price objective on Manulife Financial from C$52.00 to C$55.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Barclays lifted their target price on Manulife Financial from C$49.00 to C$52.00 in a report on Friday, January 9th. Jefferies Financial Group boosted their target price on Manulife Financial from C$54.00 to C$58.00 in a research note on Monday, February 2nd. Finally, TD Securities lowered their price target on Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating for the company in a report on Thursday, February 12th.

Insider Buying and Selling

In other Manulife Financial news, Director Adam Thomas Wise sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of C$46.47, for a total transaction of C$162,645.00. Following the sale, the director directly owned 2,497 shares in the company, valued at approximately C$116,035.59. This trade represents a 58.36% decrease in their position. Company insiders own 0.03% of the company’s stock.

Manulife Financial Stock Performance

Shares of TSE:MFC opened at C$47.05 on Monday. The firm’s 50 day simple moving average is C$49.73 and its 200 day simple moving average is C$47.65. Manulife Financial has a fifty-two week low of C$36.93 and a fifty-two week high of C$52.97. The company has a market capitalization of C$78.87 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 1.01 and a beta of 0.79. The company has a debt-to-equity ratio of 28.80, a current ratio of 2.12 and a quick ratio of 2.58.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its earnings results on Wednesday, February 11th. The financial services provider reported C$1.12 EPS for the quarter. The firm had revenue of C$22.03 billion during the quarter. Manulife Financial had a net margin of 10.91% and a return on equity of 11.34%. As a group, sell-side analysts forecast that Manulife Financial will post 3.6104452 earnings per share for the current year.

Manulife Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 19th will be given a $0.485 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $1.94 annualized dividend and a dividend yield of 4.1%. Manulife Financial’s payout ratio is currently 57.33%.

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.