Manulife Financial (TSE:MFC) Price Target Raised to C$43.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target increased by National Bankshares from C$38.00 to C$43.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. National Bankshares currently has an outperform rating on the financial services provider’s stock.

Several other research firms also recently commented on MFC. Jefferies Financial Group lowered their price objective on shares of Manulife Financial from C$43.00 to C$42.00 in a research note on Thursday, July 18th. BMO Capital Markets boosted their price target on Manulife Financial from C$40.00 to C$41.00 in a research note on Friday, May 10th. TD Securities lifted their target price on Manulife Financial from C$40.00 to C$41.00 in a report on Friday, July 12th. CIBC increased their price target on shares of Manulife Financial from C$34.00 to C$36.00 in a report on Friday, May 10th. Finally, National Bank Financial raised shares of Manulife Financial from a sector perform market weight rating to an outperform market weight rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of C$38.45.

Manulife Financial Stock Down 3.7 %

Manulife Financial stock opened at C$34.29 on Wednesday. Manulife Financial has a 1-year low of C$23.69 and a 1-year high of C$37.46. The business has a fifty day moving average price of C$35.85 and a 200-day moving average price of C$33.55. The company has a debt-to-equity ratio of 48.44, a current ratio of 29.14 and a quick ratio of 2.58. The stock has a market capitalization of C$61.72 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 12.56 and a beta of 1.10.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported C$0.94 earnings per share for the quarter, topping the consensus estimate of C$0.90 by C$0.04. Manulife Financial had a return on equity of 10.48% and a net margin of 18.29%. The business had revenue of C$12.80 billion during the quarter, compared to the consensus estimate of C$12.13 billion. Equities research analysts forecast that Manulife Financial will post 3.6078629 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, May 21st. This represents a $1.60 annualized dividend and a yield of 4.67%. Manulife Financial’s dividend payout ratio is presently 70.18%.

Insiders Place Their Bets

In other Manulife Financial news, Director Rocco Gori sold 48,640 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of C$35.25, for a total value of C$1,714,560.00. In other Manulife Financial news, Director Rocco Gori sold 48,640 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of C$35.25, for a total transaction of C$1,714,560.00. Also, Director Philip James Witherington sold 97,640 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of C$35.17, for a total transaction of C$3,433,852.34. Over the last quarter, insiders sold 157,878 shares of company stock worth $5,557,706. Company insiders own 0.02% of the company’s stock.

About Manulife Financial

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.