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

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target lifted by Scotiabank from C$48.00 to C$49.00 in a research note issued to investors on Friday,BayStreet.CA reports.

Several other equities research analysts have also issued reports on MFC. National Bankshares raised their target price on Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday. CIBC raised their target price on Manulife Financial from C$36.00 to C$42.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. TD Securities lifted their price objective on Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Barclays set a C$39.00 price objective on Manulife Financial and gave the stock an “equal weight” rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$42.27.

Manulife Financial Stock Down 1.2 %

TSE MFC traded down C$0.52 on Friday, reaching C$44.24. The company had a trading volume of 3,475,900 shares, compared to its average volume of 6,381,398. The stock has a market capitalization of C$78.30 billion, a P/E ratio of 18.83, a P/E/G ratio of 1.01 and a beta of 1.06. The company’s fifty day moving average is C$40.15 and its 200 day moving average is C$36.98. Manulife Financial has a 52-week low of C$25.39 and a 52-week 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.

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

Manulife Financial Dividend Announcement

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

Insider Buying and Selling at Manulife Financial

In other Manulife Financial news, Director Tin Ku sold 2,166 shares of the firm’s stock in a transaction dated 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 sale, the director now directly 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, Senior Officer Steve Finch sold 11,599 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total transaction of C$414,439.23. Also, Director Tin Ku sold 2,166 shares of the firm’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 owns 253 shares of the company’s stock, valued at approximately C$9,474.85. The trade was a 0.00 % decrease in their position. Insiders have sold a total of 68,821 shares of company stock valued at $2,455,596 over the last ninety days. 0.03% of the stock is currently owned by company 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.