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

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) announced a quarterly dividend on Wednesday, May 8th, RTT News reports. Stockholders of record on Wednesday, May 22nd will be paid a dividend of 0.40 per share by the financial services provider on Wednesday, June 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.76%.

Manulife Financial Trading Up 1.0 %

Shares of MFC stock traded up C$0.33 during trading hours on Wednesday, hitting C$33.60. 8,443,587 shares of the company were exchanged, compared to its average volume of 6,140,543. The firm has a fifty day moving average of C$32.58 and a 200 day moving average of C$29.74. The company has a quick ratio of 2.58, a current ratio of 3.79 and a debt-to-equity ratio of 45.69. Manulife Financial has a 1 year low of C$23.69 and a 1 year high of C$34.05. The firm has a market cap of C$60.48 billion, a PE ratio of 12.75, a PEG ratio of 12.56 and a beta of 1.09.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings results on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.84 by C$0.08. The company had revenue of C$14.92 billion for the quarter, compared to analyst estimates of C$10.24 billion. Manulife Financial had a net margin of 20.05% and a return on equity of 11.57%. Analysts expect that Manulife Financial will post 3.6797312 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on MFC. Veritas Investment Research restated a “reduce” rating on shares of Manulife Financial in a report on Friday, February 16th. TD Securities lowered shares of Manulife Financial from an “action list buy” rating to a “buy” rating and lifted their target price for the company from C$35.00 to C$37.00 in a report on Wednesday, February 21st. Royal Bank of Canada increased their price target on Manulife Financial from C$34.00 to C$38.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Cormark upgraded shares of Manulife Financial from a “market perform” rating to a “buy” rating and lifted their price objective for the company from C$33.00 to C$36.00 in a research note on Friday, February 16th. Finally, Desjardins upgraded Manulife Financial from a “hold” rating to a “buy” rating and raised their target price for the company from C$29.00 to C$36.00 in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Manulife Financial presently has an average rating of “Moderate Buy” and a consensus price target of C$36.40.

Insiders Place Their Bets

In other Manulife Financial news, Senior Officer Steve Finch sold 10,294 shares of Manulife Financial stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$337,231.44. In related news, Director Brooks Tingle sold 3,317 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$108,664.92. Also, Senior Officer Steve Finch sold 10,294 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$337,231.44. Corporate insiders own 0.02% of the company’s stock.

Manulife Financial Company Profile

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.