BMO Capital Markets Raises Manulife Financial (TSE:MFC) Price Target to C$40.00

Manulife Financial (TSE:MFC - Free Report) NYSE: MFC had its target price upped by BMO Capital Markets from C$35.00 to C$40.00 in a research report sent to investors on Monday, BayStreet.CA reports.

Several other equities analysts also recently issued reports on the stock. Evercore upped their price objective on shares of Manulife Financial from C$30.00 to C$36.00 in a research note on Tuesday, February 20th. TD Securities cut Manulife Financial from an action list buy rating to a buy rating and raised their price objective for the stock from C$35.00 to C$37.00 in a report on Wednesday, February 21st. Royal Bank of Canada lifted their price objective on Manulife Financial from C$34.00 to C$38.00 and gave the company an outperform rating in a research report on Friday, February 16th. Desjardins upgraded Manulife Financial from a hold rating to a buy rating and increased their target price for the stock from C$29.00 to C$36.00 in a research report on Friday, February 16th. Finally, Veritas Investment Research reissued a reduce rating on shares of Manulife Financial in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Manulife Financial presently has a consensus rating of Moderate Buy and a consensus price target of C$36.30.

Manulife Financial Price Performance

Manulife Financial stock traded up C$0.32 during mid-day trading on Monday, hitting C$33.45. 1,872,990 shares of the company were exchanged, compared to its average volume of 6,396,340. The company has a debt-to-equity ratio of 45.69, a current ratio of 3.79 and a quick ratio of 2.58. Manulife Financial has a 12-month low of C$23.69 and a 12-month high of C$34.05. The business's 50 day simple moving average is C$32.15 and its two-hundred day simple moving average is C$28.64. The company has a market capitalization of C$60.54 billion, a P/E ratio of 12.82, a PEG ratio of 12.56 and a beta of 1.09.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last posted its quarterly earnings data on Wednesday, February 14th. The financial services provider reported C$0.92 EPS for the quarter, topping analysts' consensus estimates of C$0.84 by C$0.08. The firm had revenue of C$14.92 billion during the quarter, compared to analysts' expectations of C$10.24 billion. Manulife Financial had a return on equity of 11.57% and a net margin of 20.05%. Analysts forecast that Manulife Financial will post 3.7118834 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th were paid a $0.40 dividend. This is a positive change from Manulife Financial's previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend was Tuesday, February 27th. Manulife Financial's payout ratio is currently 61.30%.

Insider Buying and Selling

In other news, Director Brooks Tingle sold 3,317 shares of the firm's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$108,664.92. In other Manulife Financial news, Director Brooks Tingle sold 3,317 shares of the business's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$108,664.92. Also, Senior Officer Steve Finch sold 10,294 shares of the company's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total value of C$337,231.44. Corporate insiders own 0.02% 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.