Barclays Issues Positive Forecast for Manulife Financial (TSE:MFC) Stock Price

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective lifted by Barclays from C$40.00 to C$47.00 in a report released on Monday morning,BayStreet.CA reports.

Several other equities research analysts have also recently issued reports on MFC. TD Securities lifted their target price on Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. National Bankshares upped their price objective on Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Jefferies Financial Group raised their target price on shares of Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Scotiabank upped their price target on shares of Manulife Financial from C$48.00 to C$49.00 in a research note on Friday, November 8th. Finally, CIBC lifted their price objective on shares of Manulife Financial from C$42.00 to C$46.00 in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Manulife Financial has an average rating of “Moderate Buy” and a consensus price target of C$44.09.

Manulife Financial Stock Down 0.3 %

Shares of MFC opened at C$44.17 on Monday. Manulife Financial has a 12-month low of C$28.06 and a 12-month high of C$46.42. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. The company has a market capitalization of C$78.18 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The business’s 50 day moving average is C$44.19 and its 200 day moving average is C$39.85.

Manulife Financial Announces Dividend

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

Insider Activity

In other news, Senior Officer James D. Gallagher sold 57,064 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total value of C$2,556,638.39. Also, Director Kenneth Michael Ross sold 4,243 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of C$45.80, for a total value of C$194,315.82. Insiders sold 77,771 shares of company stock worth $3,508,584 over the last three months. 0.03% of the stock is currently owned by corporate insiders.

Manulife Financial Company Profile

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.