CIBC Issues Positive Forecast for Manulife Financial (TSE:MFC) Stock Price

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target hoisted by CIBC from C$42.00 to C$46.00 in a report released on Friday,BayStreet.CA reports.

Other equities analysts have also recently issued research reports about the stock. National Bankshares increased their price objective on shares of Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday. Jefferies Financial Group raised their price target on shares of Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Barclays set a C$39.00 price target on shares of Manulife Financial and gave the company an “equal weight” rating in a research report on Thursday, September 5th. Finally, Royal Bank of Canada raised their price target on shares of Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$42.27.

Manulife Financial Trading Down 1.2 %

Shares of Manulife Financial stock traded down C$0.52 during mid-day trading on Friday, hitting C$44.24. The stock had a trading volume of 3,475,900 shares, compared to its average volume of 6,381,398. The firm has a 50-day moving average of C$40.15 and a two-hundred day moving average of C$36.98. Manulife Financial has a 12-month low of C$25.39 and a 12-month high of C$45.68. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60. The firm has a market cap of C$78.30 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share for the quarter, beating the consensus estimate of C$0.88 by C$0.03. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. The business had revenue of C$12.88 billion during the quarter, compared to analysts’ expectations of C$12.27 billion. Sell-side analysts forecast that Manulife Financial will post 3.6104452 earnings per share for the current year.

Manulife Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial’s payout ratio is 68.09%.

Insiders Place Their Bets

In other Manulife Financial news, Director Tin Ku sold 2,166 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the transaction, the director now owns 253 shares of the company’s stock, valued at C$9,474.85. This trade represents a 0.00 % decrease in their ownership of the stock. In other news, Director Tin Ku sold 2,166 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total value of C$81,116.70. Following the completion of the sale, the director now owns 253 shares of the company’s stock, valued at C$9,474.85. This represents a 0.00 % decrease in their ownership of the stock. Also, Senior Officer Steve Finch sold 11,599 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total transaction of C$414,439.23. Insiders have sold a total of 68,821 shares of company stock valued at $2,455,596 over the last quarter. Company insiders own 0.03% 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.