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

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective upped by TD Securities from C$45.00 to C$48.00 in a report issued on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the financial services provider’s stock.

Other analysts have also recently issued research reports about the company. National Bankshares lifted their price objective on Manulife Financial from C$38.00 to C$43.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada lifted their price objective on Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. Jefferies Financial Group lifted their price target on Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Scotiabank lifted their price target on Manulife Financial from C$41.00 to C$48.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$42.27.

Manulife Financial Trading Down 1.2 %

Manulife Financial stock opened at C$44.24 on Thursday. The stock has a market cap of C$78.30 billion, a PE ratio of 18.83, a P/E/G ratio of 1.01 and a beta of 1.06. The stock has a 50-day moving average price of C$40.15 and a 200 day moving average price of 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 current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60.

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

Manulife Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial’s dividend payout ratio is currently 68.09%.

Insider Activity

In other news, Senior Officer Steve Finch sold 11,599 shares of Manulife Financial stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total value of C$414,439.23. In related news, Director Tin Ku sold 2,166 shares of the business’s 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 transaction, the director now directly 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. Also, Senior Officer Steve Finch sold 11,599 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total value of C$414,439.23. Insiders have sold 68,821 shares of company stock valued at $2,455,596 in the last three months. Corporate insiders own 0.03% of the company’s stock.

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.