Jefferies Financial Group Boosts Manulife Financial (TSE:MFC) Price Target to C$47.00

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

A number of other equities research analysts have also commented on the company. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. National Bankshares increased their price objective on shares of Manulife Financial from C$38.00 to C$43.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Scotiabank boosted their target price on shares of Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, August 9th. TD Securities increased their price target on Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, July 12th. Finally, Barclays set a C$39.00 price objective on Manulife Financial and gave the company an “equal weight” rating in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$39.64.

Manulife Financial Stock Down 0.2 %

TSE:MFC opened at C$42.10 on Wednesday. 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 twelve month low of C$23.69 and a twelve month high of C$42.52. The company has a market cap of C$74.52 billion, a PE ratio of 17.91, a P/E/G ratio of 1.01 and a beta of 1.06. The company’s 50 day moving average is C$38.42 and its two-hundred day moving average is C$36.05.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.88 by C$0.03. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. The firm had revenue of C$12.88 billion for the quarter, compared to the consensus estimate of C$12.27 billion. Analysts anticipate that Manulife Financial will post 3.6104452 EPS for the current year.

Manulife Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were paid 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 Activity at Manulife Financial

In other news, Director Tin Ku sold 2,166 shares of the business’s 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 transaction of C$81,116.70. Following the transaction, the director now directly owns 253 shares in the company, valued at C$9,474.85. The trade was a 0.00 % decrease in their position. In other news, Director Matthew Lyman Macinnis sold 6,708 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of C$34.67, for a total value of C$232,566.36. Also, Director Tin Ku sold 2,166 shares of Manulife Financial stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the sale, the director now directly owns 253 shares in the company, valued at approximately C$9,474.85. The trade was a 0.00 % decrease in their position. 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.