Manulife Financial (TSE:MFC) Price Target Raised to C$49.00 at TD Securities

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective raised by TD Securities from C$48.00 to C$49.00 in a report released on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the financial services provider’s stock.

Several other research firms have also recently issued reports on MFC. National Bankshares boosted their target price on shares of Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday, November 7th. Barclays lifted their price objective on shares of Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th. Cormark increased their target price on shares of Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st. Jefferies Financial Group raised their target price on Manulife Financial from C$50.00 to C$51.00 in a research report on Thursday, January 30th. Finally, CIBC upped their price target on Manulife Financial from C$46.00 to C$47.00 in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$45.50.

Manulife Financial Trading Up 6.7 %

Shares of MFC stock opened at C$45.14 on Thursday. Manulife Financial has a twelve month low of C$31.24 and a twelve month high of C$46.42. The stock has a market cap of C$79.18 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.01 and a beta of 1.06. The stock has a 50 day moving average of C$43.53 and a 200 day moving average of C$41.52.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.90%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.40. Manulife Financial’s dividend payout ratio is presently 49.79%.

Insider Activity

In related news, Director Anthony Alex Silva sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of C$45.22, for a total transaction of C$45,218.70. Also, Director Kenneth Michael Ross sold 4,243 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of C$45.80, for a total transaction of C$194,315.82. Insiders have sold a total of 62,307 shares of company stock worth $2,796,173 over the last quarter. 0.03% of the stock is currently owned by corporate 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.