Barclays Raises Manulife Financial (TSE:MFC) Price Target to C$40.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price hoisted by Barclays from C$39.00 to C$40.00 in a research note published on Friday morning,BayStreet.CA reports.

MFC has been the subject of several other research reports. Royal Bank of Canada increased their price objective on Manulife Financial from C$38.00 to C$39.00 in a report on Friday, August 9th. CIBC increased their price objective on Manulife Financial from C$42.00 to C$46.00 in a report on Friday, November 8th. Jefferies Financial Group increased their target price on Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Cormark increased their target price on Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. Finally, Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$43.45.

Manulife Financial Price Performance

MFC opened at C$44.70 on Friday. The stock has a market capitalization of C$79.12 billion, a P/E ratio of 19.02, a PEG ratio of 1.01 and a beta of 1.06. Manulife Financial has a 12-month low of C$26.11 and a 12-month high of C$46.42. The stock has a 50-day moving average price of C$41.78 and a 200-day moving average price of C$37.96. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is presently 68.09%.

Insider Activity at Manulife Financial

In other Manulife Financial news, Senior Officer Steve Finch sold 11,598 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total transaction of C$534,308.26. Also, Director Brooks Tingle sold 3,866 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of C$46.07, for a total value of C$178,102.75. Insiders sold a total of 17,630 shares of company stock valued at $793,528 in the last 90 days. Corporate insiders own 0.03% of the company’s stock.

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.