Cormark Forecasts Strong Price Appreciation for Manulife Financial (TSE:MFC) Stock

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

Other equities analysts have also issued reports about the stock. Barclays set a C$39.00 price target on shares of Manulife Financial and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 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. National Bankshares lifted their price target on shares of Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Finally, CIBC boosted their target price on shares of Manulife Financial from C$42.00 to C$46.00 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$43.45.

Manulife Financial Price Performance

Shares of MFC opened at C$45.37 on Thursday. The company has a market cap of C$80.30 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. Manulife Financial has a twelve month low of C$26.05 and a twelve month high of C$46.42. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60. The company has a 50 day moving average of C$41.64 and a two-hundred day moving average of C$37.88.

Manulife Financial Dividend Announcement

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

Insider Buying and Selling at Manulife Financial

In other news, 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 sale, the director now directly 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. Also, Senior Officer Steve Finch sold 11,598 shares of Manulife Financial stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total value of C$534,308.26. Over the last three months, insiders sold 17,630 shares of company stock valued at $793,528. 0.03% of the stock is currently 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.