Manulife Financial Co. (TSE:MFC) Stock Has Average Target Price of C$66.00 According to Analysts

Key Points

• Analysts maintain a bullish view of Manulife Financial, with 10 buy ratings, one hold, and one strong-buy rating. The average 12-month price target is C$66.00, above the reported share price of C$60.62.
• Several major firms recently raised their targets, including Jefferies to C$70, RBC and Scotia to C$67, and TD to C$67, while retaining positive ratings.
• Manulife reported quarterly EPS of C$1.09 on C$20.34 billion in revenue and pays an annualized dividend of C$1.94 per share, representing a 3.2% yield and a 50.14% payout ratio.

Shares of Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC have received an average recommendation of "Buy" from the twelve analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$66.00.

Several research firms have recently issued reports on MFC. Jefferies Financial Group boosted their target price on Manulife Financial from C$61.00 to C$70.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Royal Bank Of Canada raised their price target on Manulife Financial from C$55.00 to C$67.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Scotia lifted their price target on shares of Manulife Financial from C$61.00 to C$67.00 and gave the company a "sector outperform" rating in a report on Friday, August 7th. Scotiabank boosted their price objective on shares of Manulife Financial from C$56.00 to C$61.00 and gave the company a "sector outperform" rating in a research report on Wednesday, July 15th. Finally, TD upped their price objective on shares of Manulife Financial from C$65.00 to C$67.00 and gave the stock a "buy" rating in a report on Thursday, August 6th.

Insider Activity

In related news, insider Patrick David Graham sold 6,843 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of C$62.06, for a total value of C$424,676.58. 0.03% of the stock is owned by corporate insiders.

Manulife Financial Stock Down 0.0%

Shares of TSE:MFC opened at C$60.62 on Friday. Manulife Financial has a 1 year low of C$43.40 and a 1 year high of C$63.58. The company has a market cap of C$100.44 billion, a PE ratio of 16.43, a P/E/G ratio of 1.01 and a beta of 0.60. The company has a debt-to-equity ratio of 26.52, a current ratio of 2.36 and a quick ratio of 2.58. The stock's 50-day moving average is C$61.04 and its 200 day moving average is C$56.34.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported C$1.09 EPS for the quarter. Manulife Financial had a return on equity of 12.98% and a net margin of 11.62%.The business had revenue of C$20.34 billion during the quarter. Sell-side analysts anticipate that Manulife Financial will post 3.6104452 EPS for the current year.

Manulife Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 21st. Investors of record on Monday, September 21st were given a dividend of $0.4850 per share. The ex-dividend date was Friday, August 21st. This represents a $1.94 annualized dividend and a dividend yield of 3.2%. Manulife Financial's payout ratio is currently 50.14%.

Manulife Financial Company Profile

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.

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