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

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target boosted by Barclays from C$40.00 to C$47.00 in a research report released on Monday,BayStreet.CA reports.

Other equities analysts have also recently issued reports about the company. Cormark boosted their target price on Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. TD Securities raised their target price on shares of Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. CIBC boosted their price target on shares of Manulife Financial from C$42.00 to C$46.00 in a research note on Friday, November 8th. Scotiabank increased their price target on shares of Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. Finally, National Bankshares lifted their price objective on shares of Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$44.09.

Manulife Financial Stock Performance

Manulife Financial stock opened at C$44.10 on Monday. The firm’s 50 day simple moving average is C$44.28 and its 200 day simple moving average is C$39.97. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. Manulife Financial has a 1-year low of C$28.06 and a 1-year high of C$46.42. The firm has a market capitalization 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.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were paid a dividend of $0.40 per share. The ex-dividend date 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 currently 68.09%.

Insider Activity

In related news, Director Kenneth Michael Ross sold 4,243 shares of Manulife Financial stock in a transaction on Monday, December 2nd. The shares were sold at an average price of C$45.80, for a total value of C$194,315.82. Also, Senior Officer James D. Gallagher sold 57,064 shares of the stock in a transaction 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. In the last quarter, insiders sold 77,771 shares of company stock valued at $3,508,584. 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.