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

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective increased by Jefferies Financial Group from C$42.00 to C$47.00 in a research report report published on Wednesday morning, BayStreet.CA reports. The firm currently has a buy rating on the financial services provider’s stock.

Several other equities analysts have also commented on MFC. National Bankshares increased their price objective on Manulife Financial from C$38.00 to C$43.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Royal Bank of Canada increased their price objective on Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. Barclays set a C$39.00 price objective on Manulife Financial and gave the company an “equal weight” rating in a research report on Thursday, September 5th. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Scotiabank increased their target price on Manulife Financial from C$40.00 to C$41.00 in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$39.64.

Manulife Financial Price Performance

Shares of TSE MFC opened at C$42.10 on Wednesday. The firm has a market capitalization of C$74.52 billion, a P/E ratio of 17.91, a P/E/G ratio of 1.01 and a beta of 1.06. 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 stock’s 50-day simple moving average is C$38.42 and its two-hundred day simple moving average is C$36.07. Manulife Financial has a twelve month low of C$23.69 and a twelve month high of C$42.52.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.88 by C$0.03. The business had revenue of C$12.88 billion for the quarter, compared to analyst estimates of C$12.27 billion. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. As a group, equities analysts anticipate that Manulife Financial will post 3.6104452 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend was Wednesday, August 21st. Manulife Financial’s dividend payout ratio is currently 68.09%.

Insider Transactions at Manulife Financial

In related news, Director Matthew Lyman Macinnis sold 6,708 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total transaction of C$232,566.36. In other Manulife Financial news, Director Matthew Lyman Macinnis sold 6,708 shares of Manulife Financial stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total value of C$232,566.36. Also, Director Rocco Gori sold 48,345 shares of Manulife Financial stock in a transaction on Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total value of C$1,727,395.86. In the last quarter, insiders sold 68,821 shares of company stock valued at $2,455,596. Corporate insiders own 0.03% of the company’s stock.

About Manulife Financial

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.