Manulife Financial (TSE:MFC) Price Target Raised to C$40.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price upped by Barclays from C$39.00 to C$40.00 in a research report sent to investors on Friday morning,BayStreet.CA reports.

MFC has been the subject of several other research reports. Cormark raised their price objective on Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. CIBC lifted their price target on Manulife Financial from C$42.00 to C$46.00 in a research report on Friday, November 8th. TD Securities lifted 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. Finally, Scotiabank lifted their price target on Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. One 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 given a strong buy rating to the stock. According to data from MarketBeat, Manulife Financial presently has an average rating of “Moderate Buy” and an average target price of C$43.45.

Manulife Financial Price Performance

MFC opened at C$45.37 on Friday. The firm has a market cap of C$80.30 billion, a P/E ratio of 19.31, a PEG ratio of 1.01 and a beta of 1.06. The firm has a 50-day moving average of C$41.64 and a 200 day moving average of C$37.88. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68. Manulife Financial has a fifty-two week low of C$26.05 and a fifty-two week high of C$46.42.

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 payout ratio is currently 68.09%.

Insider Buying and Selling at Manulife Financial

In other news, Director Tin Ku sold 2,166 shares of Manulife Financial stock in a transaction that occurred 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 sale, the director now directly owns 253 shares of the company’s stock, valued at C$9,474.85. The trade was a 89.54 % decrease in their ownership of the stock. Also, Director Brooks Tingle sold 3,866 shares of Manulife Financial stock in a transaction that occurred 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. Over the last three months, insiders have sold 17,630 shares of company stock valued at $793,528. Company 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.