Manulife Financial (TSE:MFC) Price Target Raised to C$34.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price increased by National Bankshares from C$33.00 to C$34.00 in a report published on Friday, BayStreet.CA reports. National Bankshares currently has a sector perform rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on the stock. Veritas Investment Research reissued a reduce rating on shares of Manulife Financial in a research note on Friday, February 16th. BMO Capital Markets raised their target price on shares of Manulife Financial from C$35.00 to C$40.00 in a research note on Monday, April 8th. CIBC raised their target price on shares of Manulife Financial from C$30.00 to C$34.00 and gave the stock a neutral rating in a research note on Friday, February 16th. Desjardins raised shares of Manulife Financial from a hold rating to a buy rating and raised their target price for the stock from C$29.00 to C$36.00 in a research note on Friday, February 16th. Finally, TD Securities downgraded shares of Manulife Financial from an action list buy rating to a buy rating and raised their price target for the stock from C$35.00 to C$37.00 in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Manulife Financial currently has a consensus rating of Moderate Buy and a consensus target price of C$36.40.

Manulife Financial Trading Up 0.4 %

Shares of Manulife Financial stock opened at C$32.07 on Friday. The firm has a market capitalization of C$58.05 billion, a PE ratio of 12.29, a P/E/G ratio of 12.56 and a beta of 1.09. Manulife Financial has a twelve month low of C$23.69 and a twelve month high of C$34.05. The firm’s 50-day moving average price is C$32.60 and its 200 day moving average price is C$29.35. The company has a current ratio of 3.79, a quick ratio of 2.58 and a debt-to-equity ratio of 45.69.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its earnings results on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.08. Manulife Financial had a net margin of 20.05% and a return on equity of 11.57%. The business had revenue of C$14.92 billion for the quarter, compared to analyst estimates of C$10.24 billion. On average, sell-side analysts predict that Manulife Financial will post 3.6893764 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, February 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.99%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.37. Manulife Financial’s dividend payout ratio (DPR) is currently 61.30%.

Insider Activity at Manulife Financial

In related news, Director Brooks Tingle sold 3,317 shares of Manulife Financial stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$108,664.92. In related news, Senior Officer Steve Finch sold 10,294 shares of Manulife Financial stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$337,231.44. Also, Director Brooks Tingle sold 3,317 shares of Manulife Financial stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total transaction of C$108,664.92. 0.02% of the stock is owned by 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.