Barclays PLC Increases Manulife Financial Corp. (MFC) Price Target to C$30.00

Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) had its price objective raised by Barclays PLC from C$29.00 to C$30.00 in a research note released on Monday morning.

A number of other equities research analysts have also issued reports on MFC. National Bank Financial raised their price target on shares of Manulife Financial Corp. from C$26.00 to C$27.00 and gave the stock a sector perform rating in a report on Thursday, August 10th. Royal Bank Of Canada raised their price target on shares of Manulife Financial Corp. from C$26.00 to C$28.00 and gave the stock an outperform rating in a report on Friday, August 11th. BMO Capital Markets reissued an outperform rating and issued a C$30.00 price target on shares of Manulife Financial Corp. in a report on Wednesday, October 11th. CSFB raised their target price on shares of Manulife Financial Corp. from C$28.00 to C$31.00 in a research report on Wednesday, November 1st. Finally, Scotiabank raised their target price on shares of Manulife Financial Corp. from C$31.00 to C$32.00 and gave the stock an outperform rating in a research report on Friday, November 10th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of C$28.83.

Shares of Manulife Financial Corp. (TSE:MFC) opened at C$26.86 on Monday. Manulife Financial Corp. has a twelve month low of C$22.39 and a twelve month high of C$27.50.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Tuesday, November 21st will be given a $0.205 dividend. The ex-dividend date is Monday, November 20th. This represents a $0.82 annualized dividend and a dividend yield of 3.05%. Manulife Financial Corp.’s dividend payout ratio is 43.96%.

In other news, insider Marianne Harrison sold 3,703 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of C$24.26, for a total value of C$89,834.78.

Manulife Financial Corp. 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 Corp. (TSE:MFC)

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