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

Shares of Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC have been assigned an average recommendation of "Moderate Buy" from the twelve ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is C$39.18.

A number of equities research analysts have recently commented on the company. National Bankshares lifted their target price on Manulife Financial from C$38.00 to C$43.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. Barclays set a C$39.00 target price on shares of Manulife Financial and gave the company an "equal weight" rating in a research note on Thursday, September 5th. Dbs Bank upgraded shares of Manulife Financial to a "strong-buy" rating in a research note on Thursday, August 8th. Jefferies Financial Group dropped their price objective on Manulife Financial from C$43.00 to C$42.00 in a research note on Thursday, July 18th. Finally, Royal Bank of Canada increased their price objective on Manulife Financial from C$38.00 to C$39.00 in a report on Friday, August 9th.

Manulife Financial Stock Down 0.7 %

MFC stock traded down C$0.29 during trading on Monday, reaching C$40.74. The stock had a trading volume of 3,022,468 shares, compared to its average volume of 6,575,633. Manulife Financial has a one year low of C$23.69 and a one year high of C$41.11. The company's 50 day moving average is C$37.08 and its two-hundred day moving average is C$35.50. 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 market capitalization of C$72.11 billion, a price-to-earnings ratio of 17.28, a P/E/G ratio of 12.56 and a beta of 1.05.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 EPS for the quarter, beating analysts' consensus estimates of C$0.88 by C$0.03. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. The company had revenue of C$12.88 billion during the quarter, compared to the consensus estimate of C$12.27 billion. Equities research analysts forecast that Manulife Financial will post 4.001004 EPS for the current year.

Manulife Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 21st were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date was Wednesday, August 21st. Manulife Financial's payout ratio is presently 68.09%.

Insiders Place Their Bets

In related news, Director Tin Ku sold 2,166 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the completion of the sale, the director now directly owns 253 shares in the company, valued at C$9,474.85. This represents a 0.00 % decrease in their position. In related news, Director Tin Ku sold 2,166 shares of the company's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the completion of the sale, the director now directly owns 253 shares in the company, valued at C$9,474.85. This represents a 0.00 % decrease in their position. Also, Director Matthew Lyman Macinnis sold 6,708 shares of the firm's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total transaction of C$232,566.36. Insiders sold 68,821 shares of company stock valued at $2,455,596 over the last three months. Insiders own 0.03% of the company's stock.

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.