Manulife Financial (TSE:MFC) PT Raised to C$27.00

Manulife Financial (TSE:MFCGet Rating) (NYSE:MFC) had its target price hoisted by Cormark from C$25.00 to C$27.00 in a report released on Monday morning, BayStreet.CA reports.

Several other research firms have also recently weighed in on MFC. Barclays lowered their price objective on Manulife Financial from C$29.00 to C$28.00 in a research report on Friday, November 11th. Canaccord Genuity Group raised their target price on shares of Manulife Financial from C$23.50 to C$24.50 in a report on Friday, November 11th. Evercore ISI cut their price target on Manulife Financial to C$24.00 and set a hold rating for the company in a research note on Monday, October 31st. Finally, National Bankshares lowered their price objective on Manulife Financial from C$25.00 to C$24.00 in a research note on Friday, October 28th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of C$26.45.

Manulife Financial Stock Performance

Shares of MFC stock opened at C$25.57 on Monday. Manulife Financial has a 52 week low of C$20.81 and a 52 week high of C$28.09. The company has a market capitalization of C$47.94 billion and a price-to-earnings ratio of 6.82. The company has a 50-day simple moving average of C$24.33 and a 200 day simple moving average of C$23.27. The company has a debt-to-equity ratio of 44.70, a quick ratio of 2.58 and a current ratio of 7.04.

Manulife Financial (TSE:MFCGet Rating) (NYSE:MFC) last issued its quarterly earnings data on Wednesday, November 9th. The financial services provider reported C$0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.05). The firm had revenue of C$7.78 billion during the quarter, compared to the consensus estimate of C$14.74 billion. On average, sell-side analysts predict that Manulife Financial will post 3.2699999 earnings per share for the current year.

Manulife Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 19th. Shareholders of record on Tuesday, November 22nd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date of this dividend was Monday, November 21st. Manulife Financial’s dividend payout ratio is presently 35.20%.

Insider Transactions at Manulife Financial

In related news, Director Simonetta Vendittelli sold 3,090 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of C$23.58, for a total value of C$72,867.86. Following the sale, the director now directly owns 1,079 shares of the company’s stock, valued at C$25,444.80. In related news, Director Simonetta Vendittelli sold 3,090 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of C$23.58, for a total transaction of C$72,867.86. Following the completion of the transaction, the director now directly owns 1,079 shares in the company, valued at approximately C$25,444.80. Also, Senior Officer Steve Finch sold 13,926 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of C$23.43, for a total transaction of C$326,340.49. Following the completion of the sale, the insider now owns 17,618 shares in the company, valued at approximately C$412,858.45.

Manulife Financial Company Profile

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Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.

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Analyst Recommendations for Manulife Financial (TSE:MFC)

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