Manulife Financial (TSE:MFC) Price Target Raised to C$48.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target increased by Scotiabank from C$41.00 to C$48.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. National Bankshares increased their price objective on shares of Manulife Financial from C$38.00 to C$43.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Barclays set a C$39.00 price objective on Manulife Financial and gave the stock an “equal weight” rating in a research note on Thursday, September 5th. TD Securities increased their target price on Manulife Financial from C$40.00 to C$41.00 in a research note on Friday, July 12th. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group upped their price target on 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has given 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 an average target price of C$40.82.

Manulife Financial Stock Up 1.1 %

TSE:MFC opened at C$41.13 on Wednesday. The stock’s fifty day moving average price is C$39.52 and its two-hundred day moving average price is C$36.58. The company has a market cap of C$72.80 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 1.01 and a beta of 1.06. Manulife Financial has a 52-week low of C$24.81 and a 52-week high of C$42.52. 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 (TSE:MFC) (NYSE:MFC) last posted its quarterly 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. The business had revenue of C$12.88 billion for the quarter, compared to analysts’ expectations of C$12.27 billion. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. On average, analysts anticipate that Manulife Financial will post 3.6104452 EPS for the current year.

Manulife Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 21st were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend was Wednesday, August 21st. Manulife Financial’s payout ratio is presently 68.09%.

Insiders Place Their Bets

In other news, Director Tin Ku sold 2,166 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 253 shares of the company’s stock, valued at C$9,474.85. This represents a 0.00 % decrease in their ownership of the stock. In other Manulife Financial news, Senior Officer Steve Finch sold 11,599 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total transaction of C$414,439.23. Also, Director Tin Ku sold 2,166 shares of the stock in a transaction dated 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 owns 253 shares of the company’s stock, valued at approximately C$9,474.85. This represents a 0.00 % decrease in their ownership of the stock. In the last 90 days, insiders sold 68,821 shares of company stock worth $2,455,596. Corporate 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.