Brokerages Set Manulife Financial Co. (TSE:MFC) Target Price at C$36.30

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have received a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is C$36.30.

MFC has been the topic of a number of recent research reports. BMO Capital Markets boosted their price objective on Manulife Financial from C$35.00 to C$40.00 in a research note on Monday, April 8th. Desjardins raised Manulife Financial from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$29.00 to C$36.00 in a research note on Friday, February 16th. TD Securities lowered Manulife Financial from an “action list buy” rating to a “buy” rating and boosted their price objective for the stock from C$35.00 to C$37.00 in a research note on Wednesday, February 21st. Scotiabank lifted their target price on Manulife Financial from C$35.00 to C$40.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Finally, Royal Bank of Canada lifted their target price on Manulife Financial from C$34.00 to C$38.00 and gave the company an “outperform” rating in a research report on Friday, February 16th.

Insider Activity at Manulife Financial

In related news, Senior Officer Steve Finch sold 10,294 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total value of C$337,231.44. In related news, Director Brooks Tingle sold 3,317 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$108,664.92. Also, Senior Officer Steve Finch sold 10,294 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total value of C$337,231.44. Company insiders own 0.02% of the company’s stock.

Manulife Financial Stock Performance

Shares of TSE:MFC opened at C$31.44 on Monday. The company has a debt-to-equity ratio of 45.69, a current ratio of 3.79 and a quick ratio of 2.58. The business’s 50 day moving average price is C$32.50 and its 200-day moving average price is C$28.96. The firm has a market capitalization of C$56.91 billion, a PE ratio of 12.05, a P/E/G ratio of 12.56 and a beta of 1.09. Manulife Financial has a 1 year low of C$23.69 and a 1 year high of C$34.05.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings data 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. The company had revenue of C$14.92 billion for the quarter, compared to analyst estimates of C$10.24 billion. Manulife Financial had a return on equity of 11.57% and a net margin of 20.05%. As a group, equities research analysts expect that Manulife Financial will post 3.6893764 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, February 28th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.09%. The ex-dividend date was Tuesday, February 27th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.37. Manulife Financial’s payout ratio is currently 61.30%.

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.