Manulife Financial (TSE:MFC) Price Target Increased to C$40.00 by Analysts at TD Securities

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price lifted by TD Securities from C$38.00 to C$40.00 in a research report released on Friday morning, BayStreet.CA reports. They currently have a buy rating on the financial services provider’s stock.

MFC has been the subject of a number of other research reports. BMO Capital Markets upped their target price on Manulife Financial from C$40.00 to C$41.00 in a report on Friday, May 10th. National Bankshares upgraded Manulife Financial from a sector perform rating to an outperform rating and upped their target price for the company from C$34.00 to C$38.00 in a report on Thursday, May 9th. CIBC upped their target price on Manulife Financial from C$34.00 to C$36.00 in a report on Friday, May 10th. Evercore upped their target price on Manulife Financial from C$36.00 to C$37.00 in a report 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 analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of C$37.50.

Manulife Financial Stock Performance

Shares of MFC stock opened at C$36.43 on Friday. The company has a debt-to-equity ratio of 48.44, a quick ratio of 2.58 and a current ratio of 29.14. Manulife Financial has a fifty-two week low of C$23.69 and a fifty-two week high of C$36.62. The stock has a 50 day moving average price of C$34.79 and a two-hundred day moving average price of C$32.32. The company has a market capitalization of C$65.57 billion, a P/E ratio of 15.98, a PEG ratio of 12.56 and a beta of 1.10.

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

Manulife Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were paid a $0.40 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.39%. Manulife Financial’s dividend payout ratio is currently 70.18%.

Insider Transactions at Manulife Financial

In other news, Director Philip James Witherington sold 97,640 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of C$35.17, for a total transaction of C$3,433,852.34. In other news, Director Philip James Witherington sold 97,640 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of C$35.17, for a total transaction of C$3,433,852.34. Also, 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 value of C$1,714,560.00. Over the last three months, insiders have sold 157,878 shares of company stock valued at $5,557,706. 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.