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 report issued on Monday morning,BayStreet.CA reports.

A number of other brokerages have also recently commented on MFC. National Bankshares raised their price objective on Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday, November 7th. Scotiabank lifted their price target on shares of Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. Jefferies Financial Group raised their price objective on shares of Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Cormark upped their target price on shares of Manulife Financial from C$47.00 to C$48.00 in a report on Thursday, November 21st. Finally, TD Securities increased their price target on Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$44.09.

Manulife Financial Stock Performance

MFC stock opened at C$44.10 on Monday. The firm has a market cap of C$78.06 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. 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 50-day moving average price of C$44.28 and a 200-day moving average price of C$39.97. Manulife Financial has a 1-year low of C$28.06 and a 1-year high of C$46.42.

Manulife Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.63%. Manulife Financial’s dividend payout ratio (DPR) is presently 68.09%.

Insider Activity at Manulife Financial

In other news, Senior Officer Steve Finch sold 11,598 shares of Manulife Financial stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of C$46.07, for a total value of C$534,308.26. Also, Senior Officer James D. Gallagher sold 57,064 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of C$44.80, for a total transaction of C$2,556,638.39. Over the last quarter, insiders have sold 77,771 shares of company stock worth $3,508,584. 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.