Manulife Financial Corp. (MFC) Given New C$30.00 Price Target at Barclays PLC

Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) had its price target increased by Barclays PLC from C$29.00 to C$30.00 in a research note issued to investors on Monday.

MFC has been the subject of a number of other reports. Royal Bank Of Canada lifted their target price on Manulife Financial Corp. from C$28.00 to C$30.00 and gave the company an outperform rating in a research note on Friday. BMO Capital Markets restated an outperform rating and issued a C$30.00 target price on shares of Manulife Financial Corp. in a research note on Wednesday, October 11th. Desjardins lifted their target price on Manulife Financial Corp. from C$28.00 to C$30.00 in a research note on Monday. CSFB lifted their target price on Manulife Financial Corp. from C$28.00 to C$31.00 in a research note on Wednesday, November 1st. Finally, Scotiabank lifted their target price on Manulife Financial Corp. from C$31.00 to C$32.00 and gave the company an outperform rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of C$28.83.

Shares of Manulife Financial Corp. (TSE MFC) traded down C$0.06 during mid-day trading on Monday, reaching C$26.85. The company’s stock had a trading volume of 1,395,468 shares, compared to its average volume of 4,117,209. Manulife Financial Corp. has a 12 month low of C$21.61 and a 12 month high of C$27.50.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Tuesday, November 21st will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.05%. Manulife Financial Corp.’s dividend payout ratio (DPR) is presently 43.96%.

In other news, insider Marianne Harrison sold 3,703 shares of Manulife Financial Corp. stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of C$24.26, for a total transaction of C$89,834.78.

About Manulife Financial Corp.

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

Analyst Recommendations for Manulife Financial Corp. (TSE:MFC)

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