Jefferies Financial Group Increases Manulife Financial (TSE:MFC) Price Target to C$47.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective upped by Jefferies Financial Group from C$42.00 to C$47.00 in a research report released on Wednesday morning, BayStreet.CA reports. Jefferies Financial Group currently has a buy rating on the financial services provider’s stock.

A number of other brokerages also recently commented on MFC. TD Securities boosted their price objective on Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, July 12th. Scotiabank increased their price objective on shares of Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, August 9th. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Royal Bank of Canada increased their target price on Manulife Financial from C$38.00 to C$39.00 in a report on Friday, August 9th. Finally, Barclays set a C$39.00 price target on Manulife Financial and gave the company an “equal weight” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Manulife Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of C$39.64.

Manulife Financial Price Performance

Shares of MFC opened at C$42.10 on Wednesday. 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 has a fifty-two week low of C$23.69 and a fifty-two week high of C$42.52. The company has a market cap of C$74.52 billion, a P/E ratio of 17.91, a PEG ratio of 1.01 and a beta of 1.06. The firm’s 50 day moving average price is C$38.42 and its 200 day moving average price is C$36.05.

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 the consensus estimate 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 business had revenue of C$12.88 billion for the quarter, compared to analysts’ expectations of C$12.27 billion. On average, research analysts forecast that Manulife Financial will post 3.6104452 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 21st were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.60 annualized dividend and a yield of 3.80%. Manulife Financial’s dividend payout ratio is currently 68.09%.

Insider Buying and Selling at Manulife Financial

In other news, Director Tin Ku sold 2,166 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 253 shares of the company’s stock, valued at approximately C$9,474.85. This represents a 0.00 % decrease in their position. In related news, 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 completion of the sale, the director now owns 253 shares in the company, valued at C$9,474.85. This trade represents a 0.00 % decrease in their ownership of the stock. Also, Senior Officer Steve Finch sold 11,599 shares of the company’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. In the last 90 days, insiders have sold 68,821 shares of company stock valued at $2,455,596. 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.