Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) rose 0.6% during trading on Friday . The stock traded as high as C$23.27 and last traded at C$23.27. Approximately 1,567,410 shares changed hands during trading, a decline of 70% from the average daily volume of 5,162,417 shares. The stock had previously closed at C$23.12.

MFC has been the subject of several recent research reports. Desjardins increased their target price on shares of Manulife Financial from C$27.00 to C$28.00 in a research note on Monday, April 15th. Eight Capital increased their target price on shares of Manulife Financial from C$27.00 to C$28.00 in a research note on Friday, April 26th. Canaccord Genuity increased their target price on shares of Manulife Financial from C$30.00 to C$31.00 in a research note on Monday, April 29th. National Bank Financial increased their target price on shares of Manulife Financial from C$25.00 to C$26.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Finally, Morgan Stanley increased their target price on shares of Manulife Financial from C$25.00 to C$26.00 in a research note on Friday, May 3rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of C$28.00.

The company has a market cap of $45.72 billion and a P/E ratio of 8.52. The company has a debt-to-equity ratio of 39.39, a quick ratio of 1.88 and a current ratio of 4.96.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported C$0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.69 by C$0.07. The firm had revenue of C$23.55 billion for the quarter. Research analysts anticipate that Manulife Financial Co. will post 3.1579557 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Tuesday, May 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.29%. Manulife Financial’s dividend payout ratio is currently 34.36%.

In other news, Senior Officer Scott Hartz sold 18,151 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of C$23.11, for a total transaction of C$419,469.61. Following the sale, the insider now owns 51,128 shares in the company, valued at C$1,181,568.08. Also, Senior Officer Steve Finch sold 14,256 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of C$23.55, for a total transaction of C$335,764.44. Following the sale, the insider now owns 6,214 shares in the company, valued at approximately C$146,355.24. Insiders have sold 34,369 shares of company stock worth $801,444 in the last 90 days.

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Manulife Financial Company Profile (TSE:MFC)

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.

Further Reading: Understanding Average Daily Trade Volume

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