Manulife Financial (MFC) PT Raised to C$30.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective boosted by TD Securities from C$28.00 to C$30.00 in a research note published on Tuesday. They currently have a hold rating on the financial services provider’s stock.

A number of other analysts have also recently issued reports on MFC. BMO Capital Markets restated an outperform rating and set a C$30.00 price objective on shares of Manulife Financial in a research report on Wednesday, October 11th. CSFB boosted their price objective on Manulife Financial from C$28.00 to C$31.00 in a research report on Wednesday, November 1st. National Bank Financial boosted their price objective on Manulife Financial from C$27.00 to C$29.00 and gave the company a sector perform rating in a research report on Thursday, November 9th. Royal Bank of Canada boosted their price objective on Manulife Financial from C$28.00 to C$30.00 and gave the company an outperform rating in a research report on Friday, November 10th. Finally, Scotiabank boosted their price objective on Manulife Financial from C$31.00 to C$32.00 and gave the company an outperform rating in a research report on Friday, November 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of C$29.64.

Shares of Manulife Financial (TSE:MFC) opened at C$27.21 on Tuesday. The stock has a market capitalization of $53,920.00, a P/E ratio of 14.95 and a beta of 0.99. Manulife Financial has a 1 year low of C$22.39 and a 1 year high of C$27.53.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 21st were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Monday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is 43.96%.

In other Manulife Financial news, Director P. Thomas Jenkins sold 4,500 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of C$21.09, for a total value of C$94,905.00. Also, insider Warren A. Thomson sold 11,300 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of C$26.71, for a total value of C$301,823.00.

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About Manulife Financial

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 (TSE:MFC)

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