Manulife Financial (TSE:MFC) Price Target Raised to C$49.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price raised by TD Securities from C$48.00 to C$49.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. National Bankshares increased their price target on shares of Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Scotiabank lifted their target price on Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. Jefferies Financial Group boosted their price target on Manulife Financial from C$50.00 to C$51.00 in a research note on Thursday, January 30th. CIBC increased their price objective on Manulife Financial from C$46.00 to C$47.00 in a research report on Thursday, January 30th. Finally, Barclays boosted their target price on Manulife Financial from C$40.00 to C$47.00 in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$45.60.

Manulife Financial Stock Performance

MFC stock opened at C$43.16 on Thursday. The firm has a market capitalization of C$75.70 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 1.01 and a beta of 1.06. The firm has a 50 day moving average price of C$43.51 and a 200-day moving average price of C$41.53. Manulife Financial has a 52-week low of C$31.24 and a 52-week high of C$46.42.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.08%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.40. Manulife Financial’s dividend payout ratio is 49.79%.

Insider Activity at Manulife Financial

In other news, Director Kenneth Michael Ross sold 4,243 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of C$45.80, for a total value of C$194,315.82. Also, Director Anthony Alex Silva sold 1,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of C$45.22, for a total transaction of C$45,218.70. Insiders have sold a total of 62,307 shares of company stock valued at $2,796,173 over the last 90 days. 0.03% of the stock is owned by corporate 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.