Manulife Financial Co. (TSE:MFC) Given Consensus Rating of "Moderate Buy" by Brokerages

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC has received a consensus recommendation of "Moderate Buy" from the seven analysts that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$45.60.

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of Manulife Financial from C$40.00 to C$47.00 in a research note on Monday, January 6th. CIBC increased their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Friday, February 21st. TD Securities lifted their price objective on shares of Manulife Financial from C$48.00 to C$49.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Finally, Jefferies Financial Group increased their target price on Manulife Financial from C$50.00 to C$51.00 in a report on Thursday, January 30th.

Insiders Place Their Bets

In other Manulife Financial news, Director Brooks Tingle sold 3,866 shares of Manulife Financial stock in a transaction that occurred on 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, Director Kenneth Michael Ross sold 3,219 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of C$44.91, for a total value of C$144,572.68. Insiders have sold a total of 18,683 shares of company stock valued at $816,102 over the last quarter. Company insiders own 0.03% of the company's stock.

Manulife Financial Price Performance

Shares of TSE MFC traded down C$0.43 during mid-day trading on Monday, hitting C$39.07. The company had a trading volume of 12,263,715 shares, compared to its average volume of 7,109,112. Manulife Financial has a 1-year low of C$31.24 and a 1-year high of C$46.42. The company has a market capitalization of C$68.53 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The business's 50-day simple moving average is C$43.12 and its 200 day simple moving average is C$43.10.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 19th were given a $0.44 dividend. The ex-dividend date was Wednesday, March 5th. This is a boost from Manulife Financial's previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.50%. Manulife Financial's dividend payout ratio 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.