Cormark Boosts Manulife Financial (TSE:MFC) Price Target to C$48.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective hoisted by Cormark from C$47.00 to C$48.00 in a research report report published on Thursday,BayStreet.CA reports.

A number of other research analysts have also recently commented on the company. TD Securities raised their price target on Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. CIBC raised their price objective on Manulife Financial from C$42.00 to C$46.00 in a research report on Friday, November 8th. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Scotiabank lifted their target price on Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. Finally, Barclays set a C$39.00 price objective on Manulife Financial and gave the company an “equal weight” rating in a report on Thursday, September 5th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$43.45.

Manulife Financial Stock Performance

Shares of TSE MFC opened at C$45.37 on Thursday. 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 fifty day moving average price is C$41.64 and its two-hundred day moving average price is C$37.88. Manulife Financial has a one year low of C$26.05 and a one year high of C$46.42. The firm has a market cap of C$80.30 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 1.01 and a beta of 1.06.

Manulife Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is currently 68.09%.

Insider Transactions at Manulife Financial

In other news, Director Brooks Tingle sold 3,866 shares of the firm’s 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$178,102.75. Also, Director Tin Ku sold 2,166 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total value of C$81,116.70. Following the completion of 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. In the last quarter, insiders sold 17,630 shares of company stock valued at $793,528. Corporate 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.