Manulife Financial Co. (TSE:MFC) Receives Average Rating of "Moderate Buy" from Brokerages

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

MFC has been the subject of several recent analyst reports. Cormark lifted their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st. Jefferies Financial Group upped their price target on shares of Manulife Financial from C$50.00 to C$51.00 in a report on Thursday, January 30th. TD Securities raised 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 note on Thursday, February 20th. Scotiabank upped their target price on Manulife Financial from C$48.00 to C$49.00 in a research note on Friday, November 8th. Finally, Barclays increased their price target on Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th.

Insider Buying and Selling

In other Manulife Financial news, Director Brooks Tingle sold 3,866 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of C$43.43, for a total transaction of C$167,882.21. Also, Senior Officer Steve Finch sold 11,598 shares of Manulife Financial stock in a transaction 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. 0.03% of the stock is owned by insiders.

Manulife Financial Price Performance

TSE:MFC opened at C$43.01 on Thursday. The firm has a market capitalization of C$75.44 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.01 and a beta of 1.06. The business has a 50 day simple moving average of C$43.52 and a 200-day simple moving average of C$42.11. Manulife Financial has a 1 year low of C$31.24 and a 1 year high of C$46.42.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 19th will be issued a $0.44 dividend. This is an increase from Manulife Financial's previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend is Wednesday, March 5th. Manulife Financial's payout ratio is presently 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.

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