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

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

A number of other equities analysts also recently issued reports on the company. Cormark upgraded Manulife Financial from a market perform rating to a buy rating and raised their price target for the stock from C$33.00 to C$36.00 in a research note on Friday, February 16th. CIBC upped their price target on shares of Manulife Financial from C$30.00 to C$34.00 and gave the company a neutral rating in a research report on Friday, February 16th. TD Securities lowered shares of Manulife Financial from an action list buy rating to a buy rating and upped their price target for the company from C$35.00 to C$37.00 in a research report on Wednesday, February 21st. BMO Capital Markets raised their price objective on shares of Manulife Financial from C$35.00 to C$40.00 in a report on Monday, April 8th. Finally, Veritas Investment Research reaffirmed a reduce rating on shares of Manulife Financial in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Manulife Financial has a consensus rating of Moderate Buy and an average price target of C$36.40.

Manulife Financial Price Performance

Shares of TSE:MFC opened at C$32.07 on Friday. The company has a debt-to-equity ratio of 45.69, a quick ratio of 2.58 and a current ratio of 3.79. The firm has a market cap of C$58.05 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 12.56 and a beta of 1.09. The business has a 50-day simple moving average of C$32.60 and a two-hundred day simple moving average of C$29.29. Manulife Financial has a fifty-two week low of C$23.69 and a fifty-two week high of C$34.05.

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

Manulife Financial Increases Dividend

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

Insider Buying and Selling at Manulife Financial

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

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.