Manulife Financial (MFC) Price Target Raised to C$30.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective hoisted by TD Securities from C$28.00 to C$30.00 in a research report report published on Tuesday morning. They currently have a hold rating on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on the stock. National Bank Financial boosted their target price on shares of Manulife Financial from C$29.00 to C$30.00 and gave the stock a sector perform rating in a research report on Wednesday, December 27th. Barclays boosted their target price on shares of Manulife Financial from C$29.00 to C$30.00 in a research report on Monday, November 13th. Desjardins boosted their target price on shares of Manulife Financial from C$28.00 to C$30.00 in a research report on Monday, November 13th. Scotiabank boosted their price objective on shares of Manulife Financial from C$31.00 to C$32.00 and gave the company an outperform rating in a research report on Friday, November 10th. Finally, Royal Bank of Canada boosted their price objective on shares of Manulife Financial from C$28.00 to C$30.00 and gave the company an outperform rating in a research report on Friday, November 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of C$29.64.

Manulife Financial (TSE MFC) opened at C$27.13 on Tuesday. Manulife Financial has a 1-year low of C$22.39 and a 1-year high of C$27.54. The company has a market cap of $53,760.00, a price-to-earnings ratio of 14.91 and a beta of 0.99.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 19th. Investors of record on Tuesday, November 21st were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.02%. The ex-dividend date was Monday, November 20th. Manulife Financial’s dividend payout ratio is presently 43.96%.

In other Manulife Financial news, Director Rocco Gori bought 60,694 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was acquired at an average cost of C$26.70 per share, with a total value of C$1,620,529.80. Also, Director P. Thomas Jenkins sold 4,500 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of C$21.09, for a total transaction of C$94,905.00.

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About Manulife Financial

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

Analyst Recommendations for Manulife Financial (TSE:MFC)

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