Manulife Financial (TSE:MFC) Price Target Raised to C$30.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target hoisted by Barclays from C$29.00 to C$30.00 in a research note issued to investors on Monday, November 13th.

A number of other equities research analysts have also issued reports on the stock. Desjardins increased their target price on shares of Manulife Financial from C$28.00 to C$30.00 in a report on Monday, November 13th. Scotiabank increased their target price on shares of Manulife Financial from C$31.00 to C$32.00 and gave the stock an outperform rating in a report on Friday, November 10th. Royal Bank Of Canada increased their target price on shares of Manulife Financial from C$28.00 to C$30.00 and gave the stock an outperform rating in a report on Friday, November 10th. BMO Capital Markets reissued an outperform rating and issued a C$31.00 price objective on shares of Manulife Financial in a research report on Friday, November 10th. Finally, National Bank Financial increased their price objective on shares of 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Manulife Financial has an average rating of Buy and an average price target of C$28.83.

Manulife Financial (TSE:MFC) traded down C$0.12 during trading on Monday, reaching C$26.99. 3,827,200 shares of the company’s stock were exchanged, compared to its average volume of 3,991,780. Manulife Financial has a 12 month low of C$22.39 and a 12 month high of C$27.54.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Tuesday, November 21st will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Monday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is 43.96%.

In related news, insider Warren A. Thomson sold 11,300 shares of the 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. Also, Director P. Thomas Jenkins sold 4,500 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of C$21.09, for a total transaction of C$94,905.00. Insiders sold a total of 19,503 shares of company stock worth $486,563 over the last ninety days.

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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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