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

Shares of Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC have been assigned an average recommendation of "Moderate Buy" from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Two 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 1 year price objective among brokers that have issued ratings on the stock in the last year is C$45.60.

A number of equities analysts recently commented on the company. Jefferies Financial Group raised their target price on Manulife Financial from C$50.00 to C$51.00 in a report on Thursday, January 30th. TD Securities upped their target price 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. Barclays raised their price target on shares of Manulife Financial from C$40.00 to C$47.00 in a research report on Monday, January 6th. Finally, CIBC upped their price objective on Manulife Financial from C$47.00 to C$48.00 in a research report on Friday, February 21st.

Manulife Financial Stock Up 1.0 %

TSE MFC traded up C$0.46 on Monday, reaching C$45.92. The stock had a trading volume of 1,570,744 shares, compared to its average volume of 6,825,910. Manulife Financial has a 12-month low of C$31.24 and a 12-month high of C$46.42. The stock has a fifty day moving average price of C$43.27 and a two-hundred day moving average price of C$42.99. The firm has a market capitalization of C$80.54 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 1.01 and a beta of 1.06.

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Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 19th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.83%. The ex-dividend date was Wednesday, March 5th. This is a positive change from Manulife Financial's previous quarterly dividend of $0.40. Manulife Financial's dividend payout ratio (DPR) is 49.79%.

Insider Activity at Manulife Financial

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 transaction of C$144,572.68. Also, Director Brooks Tingle sold 3,866 shares of Manulife Financial 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 value of C$167,882.21. Insiders sold 18,683 shares of company stock valued at $816,102 over the last three months. 0.03% of the stock is owned by corporate insiders.

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.