Brokerages Set Manulife Financial Co. (TSE:MFC) Price Target at C$44.55

Shares of Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC have received a consensus rating of "Moderate Buy" from the twelve brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$44.55.

A number of research firms recently weighed in on MFC. TD Securities upped their target price on shares of Manulife Financial from C$45.00 to C$48.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Jefferies Financial Group upped their price objective on Manulife Financial from C$50.00 to C$51.00 in a research note on Thursday, January 30th. Scotiabank increased their target price on Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. CIBC boosted their price target on Manulife Financial from C$46.00 to C$47.00 in a research note on Thursday, January 30th. Finally, Barclays increased their price objective on Manulife Financial from C$40.00 to C$47.00 in a research note on Monday, January 6th.

Manulife Financial Stock Performance

Manulife Financial stock traded down C$0.08 on Friday, hitting C$42.25. The company's stock had a trading volume of 5,901,602 shares, compared to its average volume of 5,006,725. Manulife Financial has a one year low of C$29.82 and a one year high of C$46.42. The firm has a market cap of C$74.78 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60. The company has a fifty day moving average price of C$43.87 and a 200-day moving average price of C$41.18.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Wednesday, November 20th. Manulife Financial's dividend payout ratio (DPR) is presently 68.09%.

Insiders Place Their Bets

In other news, Director Brooks Tingle sold 3,866 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total value of C$178,102.75. Also, Senior Officer Steve Finch sold 11,598 shares of the firm's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total value of C$534,308.26. In the last quarter, insiders have sold 77,771 shares of company stock valued at $3,508,584. 0.03% of the stock is currently owned by corporate insiders.

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.