Manulife Financial Co. (TSE:MFC) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Analyst consensus: Eight brokerages rate Manulife Financial a consensus "Buy" (six Buy, one Hold, one Strong Buy) with an average 12‑month price target of C$55.63.
• Valuation and recent results: Shares opened at C$50.58 (1‑year range C$37.51–C$52.97) with a market cap of C$84.78B and a P/E of 16.48; the company reported C$1.12 EPS and C$22.03B revenue for the most recent quarter, and analysts expect ~C$3.61 EPS for the fiscal year.
• Income and insider activity: Manulife pays a quarterly dividend of $0.485 (annualized C$1.94, yield ~3.8%, payout ratio 57.33%), while a director recently sold 3,500 shares, leaving insiders with about 0.03% ownership.

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC has been given a consensus rating of "Buy" by the eight ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$55.63.

A number of equities analysts have weighed in on MFC shares. TD Securities dropped their target price on shares of Manulife Financial from C$60.00 to C$59.00 and set a "buy" rating for the company in a research note on Thursday, February 12th. Scotiabank boosted their target price on shares of Manulife Financial from C$55.00 to C$56.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Jefferies Financial Group boosted their target price on shares of Manulife Financial from C$54.00 to C$58.00 in a research note on Monday, February 2nd. Desjardins set a C$55.00 target price on shares of Manulife Financial and gave the stock a "buy" rating in a research note on Thursday, December 18th. Finally, Canadian Imperial Bank of Commerce raised shares of Manulife Financial from a "hold" rating to an "outperform" rating and boosted their target price for the stock from C$50.00 to C$58.00 in a research note on Thursday, January 8th.

Manulife Financial Trading Up 0.2%

Shares of TSE MFC opened at C$50.58 on Friday. Manulife Financial has a 1-year low of C$37.51 and a 1-year high of C$52.97. The company has a market cap of C$84.78 billion, a PE ratio of 16.48, a P/E/G ratio of 1.01 and a beta of 0.71. The company has a current ratio of 2.12, a quick ratio of 2.58 and a debt-to-equity ratio of 28.80. The company has a 50-day moving average of C$48.66 and a two-hundred day moving average of C$48.18.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last announced its earnings results on Wednesday, February 11th. The financial services provider reported C$1.12 earnings per share for the quarter. Manulife Financial had a net margin of 10.91% and a return on equity of 11.34%. The company had revenue of C$22.03 billion during the quarter. As a group, equities analysts expect that Manulife Financial will post 3.6104452 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, March 19th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Wednesday, February 25th. Manulife Financial's payout ratio is 57.33%.

Insider Buying and Selling at Manulife Financial

In related news, Director Adam Thomas Wise sold 3,500 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of C$46.47, for a total transaction of C$162,645.00. Following the completion of the sale, the director directly owned 2,497 shares of the company's stock, valued at C$116,035.59. The trade was a 58.36% decrease in their ownership of the stock. 0.03% of the stock is currently owned by company insiders.

About Manulife Financial

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.

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