Barclays Issues Pessimistic Forecast for Manulife Financial (TSE:MFC) Stock Price

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price trimmed by Barclays from C$49.00 to C$45.00 in a research note issued to investors on Friday,BayStreet.CA reports.

A number of other research firms also recently issued reports on MFC. Jefferies Financial Group boosted their target price on shares of Manulife Financial from C$50.00 to C$51.00 in a research report on Thursday, January 30th. TD Securities upped their target price on Manulife Financial from C$48.00 to C$49.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, CIBC raised their target price on Manulife Financial from C$47.00 to C$48.00 in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$45.40.

Manulife Financial Trading Up 2.0 %

MFC opened at C$38.95 on Friday. The firm has a 50 day moving average of C$42.64 and a two-hundred day moving average of C$43.08. The firm has a market capitalization of C$68.32 billion, a PE ratio of 12.12, a P/E/G ratio of 1.01 and a beta of 1.06. Manulife Financial has a 12-month low of C$31.24 and a 12-month high of C$46.42.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 19th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.52%. Manulife Financial’s dividend payout ratio (DPR) is 49.79%.

Insider Buying and Selling

In other Manulife Financial news, Senior Officer Steve Finch sold 11,598 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of C$43.43, for a total transaction of C$503,646.63. Also, Director Kenneth Michael Ross sold 3,219 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of C$44.91, for a total transaction of C$144,572.68. In the last 90 days, insiders sold 18,683 shares of company stock valued at $816,102. 0.03% of the stock is owned by company 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.