Barclays Reiterates C$39.00 Price Target for Manulife Financial (TSE:MFC)

Barclays set a C$39.00 price target on Manulife Financial (TSE:MFC) (NYSE:MFC) in a report released on Thursday, Marketbeat Ratings reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on the company. TD Securities raised their price target on Manulife Financial from C$40.00 to C$41.00 in a report on Friday, July 12th. National Bankshares upped their price target on shares of Manulife Financial from C$38.00 to C$43.00 and gave the company an outperform rating in a research note on Wednesday, July 31st. CIBC increased their price objective on shares of Manulife Financial from C$34.00 to C$36.00 in a research report on Friday, May 10th. Dbs Bank upgraded shares of Manulife Financial to a strong-buy rating in a report on Thursday, August 8th. Finally, Evercore increased their price target on shares of Manulife Financial from C$36.00 to C$37.00 in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of C$39.18.

Manulife Financial Stock Performance

TSE:MFC opened at C$36.73 on Thursday. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68. The stock has a 50-day simple moving average of C$36.03 and a two-hundred day simple moving average of C$34.57. The firm has a market capitalization of C$65.38 billion, a PE ratio of 15.63, a P/E/G ratio of 12.56 and a beta of 1.06. Manulife Financial has a 52-week low of C$23.69 and a 52-week high of C$37.58.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.88 by C$0.03. The company had revenue of C$12.88 billion for the quarter, compared to analysts’ expectations of C$12.27 billion. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. Analysts forecast that Manulife Financial will post 3.6883768 EPS for the current year.

Manulife Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Wednesday, August 21st. Manulife Financial’s payout ratio is presently 68.09%.

Insider Activity at Manulife Financial

In other Manulife Financial news, Director Tin Ku sold 2,166 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 253 shares in the company, valued at approximately C$9,474.85. In other news, Director Tin Ku sold 2,166 shares of the stock in a transaction on Thursday, September 5th. The stock was 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 approximately C$9,474.85. Also, Senior Officer Steve Finch sold 11,599 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total value of C$414,439.23. Insiders sold 68,821 shares of company stock worth $2,455,596 in the last 90 days. 0.03% of the stock is owned by corporate insiders.

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.