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

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective boosted by TD Securities from C$29.00 to C$30.00 in a research note released on Thursday morning.

MFC has been the topic of several other reports. CIBC increased their price target on shares of Manulife Financial from C$25.00 to C$26.50 in a research report on Sunday, November 4th. National Bank Financial decreased their price target on shares of Manulife Financial from C$31.00 to C$30.00 and set an outperform rating on the stock in a research report on Thursday, August 9th. Desjardins decreased their price objective on shares of Manulife Financial from C$29.00 to C$27.00 in a research report on Tuesday, October 16th. Evercore set a C$26.00 price objective on shares of Manulife Financial and gave the company an in-line rating in a research report on Thursday. Finally, Canaccord Genuity set a C$29.00 price objective on shares of Manulife Financial and gave the company a buy rating in a research report on Tuesday, July 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Manulife Financial currently has an average rating of Buy and an average target price of C$28.35.

MFC opened at C$22.33 on Thursday. Manulife Financial has a 1-year low of C$19.63 and a 1-year high of C$27.77.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings results on Wednesday, August 8th. The financial services provider reported C$0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.65 by C$0.05. The business had revenue of C$13.67 billion during the quarter. On average, research analysts forecast that Manulife Financial will post 2.88000008254367 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Tuesday, November 20th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.48%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, November 19th. Manulife Financial’s dividend payout ratio (DPR) is presently 87.20%.

In other news, insider Lynda Sullivan sold 5,754 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of C$24.14, for a total transaction of C$138,901.56. Also, Director Michael James Doughty sold 18,129 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of C$24.14, for a total transaction of C$437,634.06. Insiders have sold a total of 45,883 shares of company stock worth $1,111,136 over the last 90 days.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance through insurance agents, brokers, banks, financial planners, and direct marketing.

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Analyst Recommendations for Manulife Financial (TSE:MFC)

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