Manulife Financial Co. (TSE:MFC) Declares Quarterly Dividend of $0.40

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) declared a quarterly dividend on Wednesday, November 6th, RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 3.67%.

Manulife Financial Stock Up 5.0 %

Shares of Manulife Financial stock traded up C$2.08 during trading on Wednesday, reaching C$43.57. The stock had a trading volume of 7,431,234 shares, compared to its average volume of 6,395,505. 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 company has a market capitalization of C$77.12 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 1.01 and a beta of 1.06. Manulife Financial has a 52 week low of C$24.90 and a 52 week high of C$43.77. The stock has a fifty day moving average price of C$39.71 and a two-hundred day moving average price of C$36.79.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 EPS for the quarter, topping the consensus estimate of C$0.88 by C$0.03. The business had revenue of C$12.88 billion during the quarter, compared to analysts’ expectations of C$12.27 billion. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. Sell-side analysts predict that Manulife Financial will post 3.6104452 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MFC has been the topic of a number of research analyst reports. Scotiabank increased their price target on Manulife Financial from C$41.00 to C$48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their target price on shares of Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. National Bankshares upped their price target on shares of Manulife Financial from C$38.00 to C$43.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. CIBC raised their price objective on shares of Manulife Financial from C$36.00 to C$42.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Barclays set a C$39.00 target price on Manulife Financial and gave the company an “equal weight” rating in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$40.82.

Insider Transactions at Manulife Financial

In related news, Director Matthew Lyman Macinnis sold 6,708 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total value of C$232,566.36. In other news, Director Matthew Lyman Macinnis sold 6,708 shares of Manulife Financial stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total value of C$232,566.36. 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 transaction, the director now directly owns 253 shares in the company, valued at C$9,474.85. This represents a 0.00 % decrease in their ownership of the stock. Over the last 90 days, insiders have sold 68,821 shares of company stock worth $2,455,596. Company 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.