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

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

Manulife Financial Trading Up 1.0 %

TSE MFC opened at C$33.60 on Thursday. The stock’s 50-day simple moving average is C$32.58 and its two-hundred day simple moving average is C$29.74. Manulife Financial has a twelve month low of C$23.69 and a twelve month high of C$34.05. The company has a quick ratio of 2.58, a current ratio of 3.79 and a debt-to-equity ratio of 45.69. The company has a market capitalization of C$60.48 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 12.56 and a beta of 1.09.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data 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 analysts’ expectations of C$10.24 billion. Manulife Financial had a return on equity of 11.57% and a net margin of 20.05%. Research analysts forecast that Manulife Financial will post 3.6797312 EPS for the current fiscal year.

Insider Activity

In related news, Director Brooks Tingle sold 3,317 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total transaction of C$108,664.92. In related news, Director Brooks Tingle sold 3,317 shares of the stock in a transaction dated 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 business’s 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. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

MFC has been the subject of a number of research reports. TD Securities cut shares of Manulife Financial from an “action list buy” rating to a “buy” rating and upped their price objective for the company from C$35.00 to C$37.00 in a research note on Wednesday, February 21st. Royal Bank of Canada upped their price target on shares of Manulife Financial from C$34.00 to C$38.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. CIBC lifted their price objective on Manulife Financial from C$30.00 to C$34.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. National Bankshares increased their target price on Manulife Financial from C$33.00 to C$34.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Finally, Scotiabank lifted their price target on Manulife Financial from C$35.00 to C$40.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$36.40.

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.