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

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC has been assigned a consensus rating of "Moderate Buy" from the seven analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$45.60.

A number of equities research analysts have recently issued reports on MFC shares. CIBC increased their target price on Manulife Financial from C$47.00 to C$48.00 in a research note 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 company a "buy" rating in a research note on Thursday, February 20th. Jefferies Financial Group upped their target price on shares of Manulife Financial from C$50.00 to C$51.00 in a research note on Thursday, January 30th. Finally, Barclays lifted their price target on shares of Manulife Financial from C$40.00 to C$47.00 in a research note on Monday, January 6th.

Insider Activity

In related news, Director Kenneth Michael Ross sold 3,219 shares of the firm'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. Also, Senior Officer Steve Finch sold 11,598 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of C$43.43, for a total value of C$503,646.63. In the last three months, insiders sold 18,683 shares of company stock valued at $816,102. Company insiders own 0.03% of the company's stock.

Manulife Financial Stock Performance

Manulife Financial stock traded down C$3.17 during trading on Monday, reaching C$43.18. 10,144,265 shares of the company's stock were exchanged, compared to its average volume of 6,959,904. Manulife Financial has a 52-week low of C$31.24 and a 52-week high of C$46.42. The firm has a market cap of C$75.74 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.01 and a beta of 1.06. The company's 50-day moving average is C$43.30 and its two-hundred day moving average is C$43.08.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 19th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.08%. This is a boost from Manulife Financial's previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, March 5th. Manulife Financial's dividend payout ratio is 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.