Manulife Financial (TSE:MFC) Price Target Raised to C$47.00

Key Points

• Barclays has increased Manulife Financial's price target from C$46.00 to C$47.00, indicating a potential upside of 13.53% from the stock's previous close.
• Several analysts have different ratings and target prices for Manulife, with CIBC lowering their target from C$48.00 to C$46.00, while Royal Bank of Canada set a target at C$51.00.
• Insider trading activity includes Director Anthony Alex Silva purchasing 2,200 shares, while another Director sold 5,545 shares recently, highlighting ongoing insider movements within the company.

Manulife Financial (TSE:MFC - Free Report) NYSE: MFC had its price objective increased by Barclays from C$46.00 to C$47.00 in a report released on Thursday,BayStreet.CA reports. They currently have an equal weight rating on the financial services provider's stock.

Other equities analysts also recently issued research reports about the company. Jefferies Financial Group lowered their price target on Manulife Financial from C$51.00 to C$46.00 in a research report on Monday, April 21st. CIBC reduced their target price on Manulife Financial from C$48.00 to C$46.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Scotiabank cut their price objective on Manulife Financial from C$53.00 to C$50.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. National Bankshares cut their price objective on Manulife Financial from C$48.00 to C$47.00 and set an "outperform" rating on the stock in a report on Thursday. Finally, Royal Bank Of Canada set a C$51.00 target price on Manulife Financial and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Manulife Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of C$47.75.

Manulife Financial Trading Down 0.5%

Shares of Manulife Financial stock traded down C$0.22 during trading on Thursday, reaching C$41.19. The stock had a trading volume of 5,256,385 shares, compared to its average volume of 7,600,970. The company has a market capitalization of C$72.25 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 1.01 and a beta of 1.06. The stock has a fifty day moving average price of C$42.65 and a two-hundred day moving average price of C$42.68. Manulife Financial has a 52 week low of C$34.28 and a 52 week high of C$46.42.

Manulife Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 19th will be paid a dividend of $0.44 per share. The ex-dividend date is Wednesday, August 20th. This represents a $1.76 dividend on an annualized basis and a yield of 4.3%. Manulife Financial's payout ratio is 49.79%.

Insider Buying and Selling at Manulife Financial

In related news, Director Philip James Witherington sold 10,866 shares of Manulife Financial stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of C$44.22, for a total value of C$480,488.00. Also, Senior Officer Naveed Irshad sold 4,545 shares of Manulife Financial stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of C$44.22, for a total transaction of C$200,977.17. In the last three months, insiders have sold 49,570 shares of company stock worth $2,191,790. 0.03% of the stock is currently owned by corporate insiders.

Manulife Financial Company Profile

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada's Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.