Manulife Financial (TSE:MFC) Given a C$51.00 Price Target by Royal Bank of Canada Analysts

Royal Bank of Canada set a C$51.00 price objective on Manulife Financial (TSE:MFC - Free Report) NYSE: MFC in a research report sent to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the financial services provider's stock.

Several other equities research analysts have also weighed in on MFC. TD Securities lifted their price objective on Manulife Financial from C$48.00 to C$49.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Barclays lowered their price target on Manulife Financial from C$49.00 to C$45.00 in a research report on Friday, April 11th. Jefferies Financial Group raised their price objective on Manulife Financial from C$50.00 to C$51.00 in a research report on Thursday, January 30th. Finally, CIBC upped their target price on shares of Manulife Financial from C$47.00 to C$48.00 in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of C$46.60.

Manulife Financial Stock Performance

Shares of TSE MFC traded down C$0.01 during trading hours on Tuesday, hitting C$39.65. 3,587,240 shares of the stock were exchanged, compared to its average volume of 6,951,722. Manulife Financial has a 1-year low of C$31.43 and a 1-year high of C$46.42. The company has a market cap of C$69.55 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The company's fifty day simple moving average is C$42.35 and its two-hundred day simple moving average is C$43.04.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 19th were given a dividend of $0.44 per share. The ex-dividend date was Wednesday, March 5th. This is a positive change from Manulife Financial's previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 4.44%. Manulife Financial's payout ratio is presently 49.79%.

Insider Activity

In other news, Senior Officer Steve Finch sold 11,598 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of C$43.43, for a total transaction of C$503,646.63. Also, Director Kenneth Michael Ross sold 3,219 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of C$44.91, for a total value of C$144,572.68. Insiders sold a total of 18,683 shares of company stock valued at $816,102 in the last 90 days. Company 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.