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

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) declared a quarterly dividend on Wednesday, November 20th,RTT News reports. Shareholders 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 annualized dividend and a yield of ∞. The ex-dividend date of this dividend is Wednesday, November 20th.

Manulife Financial Stock Performance

The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. The stock’s 50-day simple moving average is C$40.99 and its 200 day simple moving average is C$37.53. Manulife Financial has a 52-week low of C$26.01 and a 52-week high of C$46.42. The firm has a market cap of C$80.23 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06.

Insiders Place Their Bets

In other Manulife Financial news, Director Tin Ku sold 2,166 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the transaction, the director now owns 253 shares of the company’s stock, valued at C$9,474.85. This represents a 89.54 % decrease in their position. Also, Senior Officer Steve Finch sold 11,598 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total value of C$534,308.26. Insiders have sold a total of 17,633 shares of company stock valued at $793,606 in the last quarter. 0.03% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MFC. CIBC boosted their target price on Manulife Financial from C$42.00 to C$46.00 in a research report on Friday, November 8th. Barclays set a C$39.00 price target on Manulife Financial and gave the stock an “equal weight” rating in a report on Thursday, September 5th. Royal Bank of Canada upped their price target on Manulife Financial from C$38.00 to C$39.00 in a report on Friday, August 9th. TD Securities upped their price target on 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, Scotiabank upped their price target on Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Manulife Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of C$42.27.

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.