Manulife Financial Co. (MFC) to Issue Quarterly Dividend of $0.40 on December 19th

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) announced a quarterly dividend on Wednesday, November 20th,RTT News reports. Stockholders of record on Thursday, December 19th 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 dividend yield of 3.47%. The ex-dividend date is Wednesday, November 20th.

Manulife Financial Stock Down 0.4 %

Manulife Financial stock opened at C$46.05 on Monday. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60. Manulife Financial has a 12-month low of C$25.87 and a 12-month high of C$46.42. The firm’s fifty day moving average is C$40.99 and its 200 day moving average is C$37.53. The company has a market capitalization of C$81.51 billion, a PE ratio of 19.60, a PEG ratio of 1.01 and a beta of 1.06.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MFC. Barclays set a C$39.00 target price on shares of Manulife Financial and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. National Bankshares increased their target price on shares of Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday, November 7th. Jefferies Financial Group increased 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 report on Wednesday, October 16th. TD Securities increased their price target on shares of Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$42.27.

Insider Transactions at Manulife Financial

In other news, Director Tin Ku sold 2,166 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 253 shares in the company, valued at approximately C$9,474.85. This trade represents a 89.54 % decrease in their ownership of the stock. Company insiders own 0.03% 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.