Manulife Financial (TSE:MFC) Price Target Raised to C$47.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price hoisted by Barclays from C$40.00 to C$47.00 in a research report report published on Monday,BayStreet.CA reports.

Several other research analysts have also recently commented on the company. TD Securities boosted their target price on Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Scotiabank boosted their price objective on Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. CIBC raised their target price on shares of Manulife Financial from C$42.00 to C$46.00 in a report on Friday, November 8th. National Bankshares boosted their price target on shares of Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Finally, Cormark increased their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$44.09.

Manulife Financial Trading Down 0.3 %

Shares of TSE MFC opened at C$44.17 on Monday. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. The stock has a market capitalization of C$78.18 billion, a PE ratio of 18.80, a PEG ratio of 1.01 and a beta of 1.06. Manulife Financial has a twelve month low of C$28.06 and a twelve month high of C$46.42. The stock has a fifty day simple moving average of C$44.19 and a 200-day simple moving average of C$39.85.

Manulife Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were issued a $0.40 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $1.60 annualized dividend and a yield of 3.62%. Manulife Financial’s dividend payout ratio (DPR) is presently 68.09%.

Insider Activity at Manulife Financial

In related news, Director Brooks Tingle sold 3,866 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$178,102.75. Also, Senior Officer James D. Gallagher sold 57,064 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total value of C$2,556,638.39. Over the last ninety days, insiders sold 77,771 shares of company stock worth $3,508,584. 0.03% of the stock is currently owned by insiders.

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.