Manulife Financial (TSE:MFC) Price Target Raised to C$34.00

Manulife Financial (TSE:MFC - Free Report) NYSE: MFC had its price objective hoisted by National Bankshares from C$33.00 to C$34.00 in a report issued on Friday morning, BayStreet.CA reports. National Bankshares currently has a sector perform rating on the financial services provider's stock.

Several other equities analysts have also weighed in on the stock. BMO Capital Markets lifted their target price on shares of Manulife Financial from C$35.00 to C$40.00 in a report on Monday, April 8th. TD Securities cut shares of Manulife Financial from an action list buy rating to a buy rating and lifted their target price for the stock from C$35.00 to C$37.00 in a research note on Wednesday, February 21st. Evercore boosted their price objective on shares of Manulife Financial from C$30.00 to C$36.00 in a report on Tuesday, February 20th. Scotiabank boosted their price objective on shares of Manulife Financial from C$35.00 to C$40.00 and gave the company an outperform rating in a report on Friday, February 16th. Finally, Desjardins upgraded shares of Manulife Financial from a hold rating to a buy rating and boosted their price target for the stock from C$29.00 to C$36.00 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 given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of C$36.40.

Manulife Financial Stock Up 0.4 %

Shares of TSE:MFC traded up C$0.13 during trading on Friday, reaching C$32.07. The stock had a trading volume of 3,632,703 shares, compared to its average volume of 6,014,566. Manulife Financial has a one year low of C$23.69 and a one year high of C$34.05. The company has a market capitalization of C$58.05 billion, a P/E ratio of 12.30, a PEG ratio of 12.56 and a beta of 1.09. The company has a current ratio of 3.79, a quick ratio of 2.58 and a debt-to-equity ratio of 45.69. The firm's 50-day simple moving average is C$32.62 and its 200 day simple moving average is C$29.24.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last posted its earnings results on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share for the quarter, beating the consensus estimate of C$0.84 by C$0.08. The firm had revenue of C$14.92 billion during the quarter, compared to analyst estimates of C$10.24 billion. Manulife Financial had a net margin of 20.05% and a return on equity of 11.57%. As a group, research analysts expect that Manulife Financial will post 3.6893764 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were given a $0.40 dividend. This is a boost from Manulife Financial's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.60 annualized dividend and a yield of 4.99%. Manulife Financial's dividend payout ratio is presently 61.30%.

Insiders Place Their Bets

In other Manulife Financial news, Senior Officer Steve Finch sold 10,294 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total value of C$337,231.44. In related news, Senior Officer Steve Finch sold 10,294 shares of the business's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$337,231.44. Also, 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. 0.02% of the stock is currently owned by company insiders.

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.