Manulife Financial (TSE:MFC) Price Target Raised to C$47.00

Manulife Financial (TSE:MFC - Free Report) NYSE: MFC had its target price upped by Jefferies Financial Group from C$42.00 to C$47.00 in a report published on Wednesday morning, BayStreet.CA reports. They currently have a buy rating on the financial services provider's stock.

Other equities analysts have also recently issued reports about the company. Dbs Bank raised Manulife Financial to a "strong-buy" rating in a report on Thursday, August 8th. Barclays set a C$39.00 price objective on shares of Manulife Financial and gave the company an "equal weight" rating in a research note on Thursday, September 5th. National Bankshares upped their price target 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. Royal Bank of Canada increased their price target on shares of Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. Finally, Scotiabank lifted their price objective on Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$39.64.

Manulife Financial Price Performance

Shares of TSE MFC traded up C$0.36 during trading on Wednesday, hitting C$42.16. 1,790,194 shares of the company were exchanged, compared to its average volume of 6,483,925. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. Manulife Financial has a 1 year low of C$23.69 and a 1 year high of C$42.22. The company has a market cap of C$74.62 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.01 and a beta of 1.06. The firm's fifty day moving average price is C$37.93 and its 200 day moving average price is C$35.90.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.91 EPS for the quarter, topping analysts' consensus estimates of C$0.88 by C$0.03. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. The firm had revenue of C$12.88 billion for the quarter, compared to the consensus estimate of C$12.27 billion. On average, sell-side analysts expect that Manulife Financial will post 3.6104452 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 21st were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, August 21st. This represents a $1.60 annualized dividend and a yield of 3.80%. Manulife Financial's dividend payout ratio (DPR) is presently 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 sale, the director now directly owns 253 shares of the company's stock, valued at C$9,474.85. The trade was a 0.00 % decrease in their position. In other news, Director Tin Ku sold 2,166 shares of the firm's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total value 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 trade represents a 0.00 % decrease in their position. Also, Director Matthew Lyman Macinnis sold 6,708 shares of the company's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total transaction of C$232,566.36. Insiders sold 68,821 shares of company stock worth $2,455,596 in the last 90 days. 0.03% of the stock is owned by company insiders.

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.