Manulife Financial (TSE:MFC) Price Target Increased to C$41.00 by Analysts at TD Securities

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target increased by TD Securities from C$40.00 to C$41.00 in a research note issued to investors on Friday morning, BayStreet.CA reports.

A number of other equities research analysts also recently issued reports on MFC. BMO Capital Markets increased their target price on shares of Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, May 10th. National Bankshares raised Manulife Financial from a sector perform rating to an outperform rating and lifted their price objective for the company from C$34.00 to C$38.00 in a research report on Thursday, May 9th. Evercore upped their target price on Manulife Financial from C$36.00 to C$37.00 in a research report on Friday, May 10th. CIBC raised their price target on Manulife Financial from C$34.00 to C$36.00 in a research note on Friday, May 10th. Finally, National Bank Financial raised Manulife Financial from a sector perform market weight rating to an outperform market weight rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of C$37.60.

Manulife Financial Stock Performance

Shares of Manulife Financial stock opened at C$37.00 on Friday. Manulife Financial has a 12 month low of C$23.69 and a 12 month high of C$37.46. The company has a quick ratio of 2.58, a current ratio of 29.14 and a debt-to-equity ratio of 48.44. The stock has a market cap of C$66.60 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 12.56 and a beta of 1.10. The business has a fifty day simple moving average of C$35.67 and a 200-day simple moving average of C$32.88.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported C$0.94 EPS for the quarter, topping analysts’ consensus estimates of C$0.90 by C$0.04. The firm had revenue of C$12.80 billion during the quarter, compared to analyst estimates of C$12.13 billion. Manulife Financial had a return on equity of 10.48% and a net margin of 18.29%. On average, sell-side analysts anticipate that Manulife Financial will post 3.6078629 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Tuesday, May 21st. Manulife Financial’s payout ratio is 70.18%.

Insider Activity at Manulife Financial

In other news, Senior Officer Steve Finch sold 11,598 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of C$35.29, for a total value of C$409,293.42. In other Manulife Financial news, 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 value of C$3,433,852.34. Also, Senior Officer Steve Finch sold 11,598 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of C$35.29, for a total transaction of C$409,293.42. In the last three months, insiders have sold 157,878 shares of company stock worth $5,557,706. 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.