Analysts Set Manulife Financial Co. (TSE:MFC) Target Price at C$45.60

Shares of Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC have been given an average rating of "Moderate Buy" by the seven ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$45.60.

MFC has been the topic of several recent analyst reports. Barclays boosted their price target on Manulife Financial from C$40.00 to C$47.00 in a research note on Monday, January 6th. CIBC lifted their price objective on 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 Manulife Financial from C$48.00 to C$49.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Cormark lifted their price objective on Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. Finally, Jefferies Financial Group lifted their price objective on Manulife Financial from C$50.00 to C$51.00 in a research report on Thursday, January 30th.

Insider Buying and Selling at Manulife Financial

In other news, Director Brooks Tingle sold 3,866 shares of Manulife Financial stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of C$43.43, for a total transaction of C$167,882.21. Also, Director Kenneth Michael Ross sold 3,219 shares of Manulife Financial 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 transaction of C$144,572.68. In the last three months, insiders have sold 18,683 shares of company stock worth $816,102. Company insiders own 0.03% of the company's stock.

Manulife Financial Price Performance

Shares of MFC stock opened at C$42.08 on Thursday. The stock's fifty day simple moving average is C$43.43 and its 200 day simple moving average is C$42.15. The firm has a market cap of C$73.81 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 1.01 and a beta of 1.06. Manulife Financial has a one year low of C$31.24 and a one 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. Shareholders of record on Wednesday, March 19th will be issued a dividend of $0.44 per share. This is a boost from Manulife Financial's previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Wednesday, March 5th. Manulife Financial's payout ratio is currently 49.79%.

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.

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