Manulife Financial Co. (TSE:MFC) Receives C$45.60 Consensus Target Price from Brokerages

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

Several research analysts have weighed in on the stock. Cormark raised their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a report on Thursday, November 21st. Barclays raised their price objective on shares of Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th. CIBC raised their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a report on Friday, February 21st. 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 report on Thursday, February 20th. Finally, Jefferies Financial Group raised their price objective on shares of Manulife Financial from C$50.00 to C$51.00 in a report on Thursday, January 30th.

Manulife Financial Price Performance

Manulife Financial stock traded up C$0.05 during midday trading on Thursday, hitting C$42.08. 7,814,738 shares of the stock were exchanged, compared to its average volume of 6,424,563. Manulife Financial has a 1 year low of C$31.24 and a 1 year high of C$46.42. The firm has a market cap of C$73.81 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.01 and a beta of 1.06. The company has a 50 day moving average price of C$43.43 and a two-hundred day moving average price of C$42.15.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 19th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Manulife Financial's previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 4.18%. Manulife Financial's payout ratio is presently 49.79%.

Insider Activity at Manulife Financial

In other Manulife Financial news, Director Kenneth Michael Ross sold 3,219 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of C$44.91, for a total value of C$144,572.68. Also, Director Brooks Tingle sold 3,866 shares of the business's 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 transaction of C$167,882.21. Over the last three months, insiders have sold 18,683 shares of company stock valued at $816,102. Corporate insiders own 0.03% of the company's stock.

Manulife Financial Company Profile

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.