Manulife Financial Co. (TSE:MFC) Given Average Recommendation of “Hold” by Analysts

Shares of Manulife Financial Co. (TSE:MFCGet Rating) (NYSE:MFC) have earned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is C$26.17.

A number of equities research analysts recently weighed in on the stock. Evercore ISI lowered their price target on shares of Manulife Financial to C$24.00 and set a “hold” rating for the company in a report on Monday, October 31st. National Bankshares lowered their price target on shares of Manulife Financial from C$25.00 to C$24.00 in a report on Friday, October 28th. Canaccord Genuity Group raised their price target on shares of Manulife Financial from C$23.50 to C$24.50 in a report on Friday, November 11th. Finally, Barclays lowered their price target on shares of Manulife Financial from C$29.00 to C$28.00 in a report on Friday, November 11th.

Insiders Place Their Bets

In related news, Senior Officer Steve Finch sold 13,926 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of C$23.43, for a total transaction of C$326,340.49. Following the completion of the sale, the insider now directly owns 17,618 shares in the company, valued at C$412,858.45. In other Manulife Financial news, Senior Officer Steve Finch sold 13,926 shares of Manulife Financial stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of C$23.43, for a total value of C$326,340.49. Following the completion of the sale, the insider now directly owns 17,618 shares in the company, valued at C$412,858.45. Also, Director Simonetta Vendittelli sold 3,090 shares of Manulife Financial stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of C$23.58, for a total transaction of C$72,867.86. Following the completion of the transaction, the director now directly owns 1,079 shares in the company, valued at approximately C$25,444.80.

Manulife Financial Price Performance

Manulife Financial stock opened at C$25.33 on Friday. Manulife Financial has a 52-week low of C$20.81 and a 52-week high of C$28.09. The firm has a fifty day moving average of C$23.97 and a 200-day moving average of C$23.11. The firm has a market capitalization of C$47.49 billion and a P/E ratio of 6.75. The company has a quick ratio of 2.58, a current ratio of 7.04 and a debt-to-equity ratio of 44.70.

Manulife Financial (TSE:MFCGet Rating) (NYSE:MFC) last released its quarterly earnings data on Wednesday, November 9th. The financial services provider reported C$0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.72 by C($0.05). The firm had revenue of C$7.78 billion for the quarter, compared to the consensus estimate of C$14.74 billion. As a group, analysts predict that Manulife Financial will post 3.2699999 EPS for the current year.

Manulife Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 19th. Stockholders of record on Tuesday, November 22nd were paid a $0.33 dividend. The ex-dividend date was Monday, November 21st. This represents a $1.32 annualized dividend and a dividend yield of 5.21%. Manulife Financial’s dividend payout ratio is currently 35.20%.

About Manulife Financial

(Get Rating)

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.

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Analyst Recommendations for Manulife Financial (TSE:MFC)

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