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

Shares of Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC have received an average recommendation of "Moderate Buy" from the eight ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$48.00.

A number of brokerages have weighed in on MFC. Scotiabank decreased their price target on shares of Manulife Financial from C$53.00 to C$50.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. TD Securities upped their price target on 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. Jefferies Financial Group dropped their price target on Manulife Financial from C$51.00 to C$46.00 in a research note on Monday, April 21st. Barclays dropped their price target on Manulife Financial from C$49.00 to C$45.00 in a research note on Friday, April 11th. Finally, Royal Bank of Canada set a C$51.00 price target on Manulife Financial and gave the stock an "outperform" rating in a research note on Tuesday, April 15th.

Manulife Financial Stock Down 0.3%

Shares of TSE:MFC traded down C$0.11 during trading on Tuesday, reaching C$42.83. The stock had a trading volume of 13,037,295 shares, compared to its average volume of 7,722,016. Manulife Financial has a fifty-two week low of C$32.87 and a fifty-two week high of C$46.42. The business has a fifty day moving average price of C$42.43 and a 200-day moving average price of C$43.34. The stock has a market cap of C$75.12 billion, a P/E ratio of 13.33, a PEG ratio of 1.01 and a beta of 1.06.

Manulife Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 19th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date is Wednesday, May 21st. Manulife Financial's payout ratio is currently 49.79%.

Insider Transactions at Manulife Financial

In other news, Senior Officer Rahim Hirji sold 17,849 shares of Manulife Financial stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of C$44.22, for a total value of C$789,272.07. Also, Senior Officer Trevor Kreel sold 3,636 shares of Manulife Financial stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of C$44.22, for a total value of C$160,781.74. Over the last quarter, insiders sold 80,522 shares of company stock valued at $3,550,793. 0.03% of the stock is currently owned by corporate insiders.

Manulife Financial Company Profile

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada's Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.