Manulife Financial Co. (TSE:MFC) to Issue $0.40 Quarterly Dividend

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) announced a quarterly dividend on Wednesday, November 6th, RTT News reports. Stockholders of record on Wednesday, November 20th will be given a dividend of 0.40 per share by the financial services provider on Thursday, December 19th. This represents a $1.60 annualized dividend and a dividend yield of 3.67%.

Manulife Financial Stock Up 5.0 %

Shares of MFC traded up C$2.08 during trading hours on Wednesday, reaching C$43.57. 7,431,234 shares of the stock traded hands, compared to its average volume of 6,395,505. Manulife Financial has a 52 week low of C$24.90 and a 52 week high of C$43.77. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. The stock has a fifty day simple moving average of C$39.71 and a 200 day simple moving average of C$36.79. The company has a market cap of C$77.12 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.01 and a beta of 1.06.

Manulife Financial (TSE:MFC) (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. The company had revenue of C$12.88 billion during the quarter, compared to the consensus estimate of C$12.27 billion. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. On average, equities analysts forecast that Manulife Financial will post 3.6104452 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on MFC shares. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group boosted their price objective on Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays set a C$39.00 target price on shares of Manulife Financial and gave the company an “equal weight” rating in a report on Thursday, September 5th. Scotiabank raised their target price on Manulife Financial from C$41.00 to C$48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, CIBC raised their price objective on shares of Manulife Financial from C$36.00 to C$42.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$40.82.

Insider Buying and Selling at Manulife Financial

In related news, Director Tin Ku sold 2,166 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total value of C$81,116.70. Following the completion of the sale, the director now owns 253 shares in the company, valued at C$9,474.85. The trade was a 0.00 % decrease in their position. In other news, Senior Officer Steve Finch sold 11,599 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total transaction of C$414,439.23. Also, Director Tin Ku sold 2,166 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total value of C$81,116.70. Following the completion of the sale, the director now directly owns 253 shares of the company’s stock, valued at approximately C$9,474.85. This trade represents a 0.00 % decrease in their position. Insiders have sold 68,821 shares of company stock worth $2,455,596 over the last 90 days. Corporate 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.