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

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

MFC has been the subject of a number of other research reports. Royal Bank of Canada increased their price target on shares of Manulife Financial from C$38.00 to C$39.00 in a research note on Friday, August 9th. National Bankshares raised their target price on shares of Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday, November 7th. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. CIBC raised their target price on shares of Manulife Financial from C$42.00 to C$46.00 in a research note on Friday, November 8th. Finally, TD Securities raised their target price on shares of Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One research 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$43.45.

Manulife Financial Trading Down 0.6 %

Shares of Manulife Financial stock opened at C$45.37 on Friday. The company has a fifty day simple moving average of C$41.64 and a 200-day simple moving average of C$37.88. Manulife Financial has a 12-month low of C$26.05 and a 12-month high of C$46.42. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. The stock has a market cap of C$80.30 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 1.01 and a beta of 1.06.

Manulife Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.60 annualized dividend and a yield of 3.53%. Manulife Financial’s payout ratio is 68.09%.

Insider Buying and Selling at Manulife Financial

In other news, Director Tin Ku sold 2,166 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 253 shares of the company’s stock, valued at approximately 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 the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of C$46.07, for a total transaction of C$178,102.75. Insiders sold a total of 17,630 shares of company stock worth $793,528 over the last 90 days. 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.