Barclays Increases Manulife Financial (MFC) Price Target to C$31.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price raised by Barclays from C$30.00 to C$31.00 in a research report released on Thursday morning.

Several other brokerages have also recently weighed in on MFC. National Bank Financial boosted their price objective on Manulife Financial from C$27.00 to C$29.00 and gave the stock a sector perform rating in a report on Thursday, November 9th. Desjardins upped their price target on Manulife Financial from C$28.00 to C$30.00 in a research note on Monday, November 13th. Scotiabank upped their price target on Manulife Financial from C$31.00 to C$32.00 and gave the company an outperform rating in a research note on Friday, November 10th. Royal Bank of Canada upped their price target on Manulife Financial from C$28.00 to C$30.00 and gave the company an outperform rating in a research note on Friday, November 10th. Finally, BMO Capital Markets reaffirmed an outperform rating and issued a C$31.00 price target on shares of Manulife Financial in a research note on Friday, November 10th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of C$29.64.

Shares of Manulife Financial (TSE MFC) traded up C$0.08 during trading hours on Thursday, reaching C$27.21. The company’s stock had a trading volume of 3,168,388 shares, compared to its average volume of 2,720,000. The company has a market cap of $53,920.00, a PE ratio of 14.95 and a beta of 0.99. Manulife Financial has a 12-month low of C$22.39 and a 12-month high of C$27.53.

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

In other Manulife Financial news, Director Rocco Gori acquired 60,694 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was acquired at an average cost of C$26.70 per share, for a total transaction of C$1,620,529.80. Also, Director P. Thomas Jenkins sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of C$21.09, for a total value of C$94,905.00.

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Manulife Financial Company Profile

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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