Brokerages Set Manulife Financial Co. (TSE:MFC) Price Target at C$37.50

Shares of Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC have been given an average recommendation of "Moderate Buy" by the ten brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is C$37.50.

MFC has been the topic of a number of recent research reports. National Bankshares upgraded shares of Manulife Financial from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from C$34.00 to C$38.00 in a report on Thursday, May 9th. National Bank Financial upgraded shares of Manulife Financial from a "sector perform market weight" rating to an "outperform market weight" rating in a report on Wednesday, May 8th. CIBC upped their price objective on shares of Manulife Financial from C$34.00 to C$36.00 in a report on Friday, May 10th. BMO Capital Markets upped their price objective on shares of Manulife Financial from C$40.00 to C$41.00 in a report on Friday, May 10th. Finally, TD Securities upped their target price on shares of Manulife Financial from C$38.00 to C$40.00 and gave the stock a "buy" rating in a research note on Friday.

Manulife Financial Trading Up 0.4 %

Shares of TSE MFC traded up C$0.14 during midday trading on Friday, hitting C$36.43. 6,472,576 shares of the company traded hands, compared to its average volume of 6,535,243. Manulife Financial has a 12-month low of C$23.69 and a 12-month high of C$36.62. The company has a debt-to-equity ratio of 48.44, a quick ratio of 2.58 and a current ratio of 29.14. The stock has a 50-day moving average price of C$34.79 and a 200 day moving average price of C$32.30. The firm has a market cap of C$65.57 billion, a P/E ratio of 15.98, a P/E/G ratio of 12.56 and a beta of 1.10.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported C$0.94 earnings per share for the quarter, topping analysts' consensus estimates of C$0.90 by C$0.04. The business had revenue of C$12.80 billion for the quarter, compared to analysts' expectations of C$12.13 billion. Manulife Financial had a net margin of 18.29% and a return on equity of 10.48%. As a group, analysts expect that Manulife Financial will post 3.6078629 earnings per share for the current year.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $1.60 dividend on an annualized basis and a yield of 4.39%. Manulife Financial's dividend payout ratio (DPR) is 70.18%.

Insider Activity at Manulife Financial

In related news, Director Rocco Gori sold 48,640 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of C$35.25, for a total transaction of C$1,714,560.00. In related news, Senior Officer Steve Finch sold 11,598 shares of the firm's stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of C$35.29, for a total transaction of C$409,293.42. Also, Director Rocco Gori sold 48,640 shares of the firm's stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of C$35.25, for a total transaction of C$1,714,560.00. Insiders have sold a total of 157,878 shares of company stock worth $5,557,706 over the last quarter. Company insiders own 0.02% 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.