Manulife Financial (TSE:MFC) Price Target Raised to C$51.00

Manulife Financial (TSE:MFC - Free Report) NYSE: MFC had its price objective lifted by Jefferies Financial Group from C$50.00 to C$51.00 in a report issued on Thursday,BayStreet.CA reports.

A number of other equities analysts have also commented on the company. TD Securities lifted their price objective on 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. Barclays lifted their price objective on Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th. CIBC increased their target price on shares of Manulife Financial from C$46.00 to C$47.00 in a research report on Thursday. Cormark lifted their price objective on Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. Finally, National Bankshares boosted their target price on Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$44.55.

Manulife Financial Stock Down 1.8 %

Shares of TSE MFC traded down C$0.80 during mid-day trading on Thursday, reaching C$42.66. The company had a trading volume of 3,014,876 shares, compared to its average volume of 3,307,814. Manulife Financial has a 12-month low of C$29.09 and a 12-month high of C$46.42. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68. The company has a market capitalization of C$75.51 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 1.01 and a beta of 1.06. The stock has a fifty day moving average of C$44.18 and a two-hundred day moving average of C$40.85.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported C$1.00 earnings per share for the quarter, beating the consensus estimate of C$0.95 by C$0.05. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. During the same quarter last year, the firm earned $0.92 EPS. As a group, equities research analysts expect that Manulife Financial will post 3.6104452 EPS for the current year.

Manulife Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Wednesday, November 20th. Manulife Financial's payout ratio is currently 68.09%.

Insider Activity

In related news, Director Anthony Alex Silva sold 1,000 shares of the business's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of C$45.22, for a total transaction of C$45,218.70. Also, Director Kenneth Michael Ross sold 4,243 shares of the firm's stock in a transaction that occurred 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. Insiders have sold a total of 77,771 shares of company stock worth $3,508,584 over the last three months. 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.