Brokerages Set Manulife Financial Co. (TSE:MFC) PT at C$49.78

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has been given an average recommendation of “Moderate Buy” by the eight research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is C$50.56.

MFC has been the topic of several analyst reports. CIBC increased their price objective on shares of Manulife Financial from C$49.00 to C$50.00 in a report on Friday. TD Securities upped their target price on shares of Manulife Financial from C$54.00 to C$57.00 in a research report on Thursday. Royal Bank Of Canada raised their price target on Manulife Financial from C$49.00 to C$52.00 in a research report on Friday. Barclays lifted their price objective on Manulife Financial from C$47.00 to C$48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Finally, National Bankshares increased their target price on Manulife Financial from C$47.00 to C$52.00 and gave the company an “outperform” rating in a research note on Monday, October 20th.

Manulife Financial Stock Down 0.1%

Manulife Financial stock opened at C$48.26 on Tuesday. The business’s 50-day simple moving average is C$44.81 and its 200 day simple moving average is C$43.49. The stock has a market cap of C$81.55 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 1.01 and a beta of 0.94. Manulife Financial has a 12-month low of C$36.93 and a 12-month high of C$49.82.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, November 12th. The financial services provider reported C$1.02 earnings per share for the quarter. The firm had revenue of C$43.35 billion during the quarter. Manulife Financial had a return on equity of 11.75% and a net margin of 12.52%. As a group, sell-side analysts expect that Manulife Financial will post 3.6104452 EPS for the current year.

Manulife Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 19th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $1.76 annualized dividend and a yield of 3.6%. Manulife Financial’s dividend payout ratio (DPR) is presently 54.19%.

Manulife Financial Company Profile

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada’s Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.