Manulife Financial (TSE:MFC) Stock Price Expected to Rise, TD Securities Analyst Says

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price hoisted by TD Securities from C$45.00 to C$48.00 in a research note released on Thursday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on MFC. Royal Bank of Canada raised their target price on shares of Manulife Financial from C$38.00 to C$39.00 in a report on Friday, August 9th. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. CIBC increased their target price on shares of Manulife Financial from C$36.00 to C$42.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their target price on Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Barclays set a C$39.00 price target on Manulife Financial and gave the company an “equal weight” rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$41.82.

Manulife Financial Price Performance

Shares of TSE MFC traded down C$0.60 during midday trading on Thursday, hitting C$44.16. 644,967 shares of the company’s stock were exchanged, compared to its average volume of 6,368,353. The business’s fifty day moving average price is C$39.84 and its two-hundred day moving average price is C$36.88. The company has a market cap of C$78.16 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.01 and a beta of 1.06. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. Manulife Financial has a 12-month low of C$25.39 and a 12-month high of C$45.68.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 EPS for the quarter, topping analysts’ consensus estimates of C$0.88 by C$0.03. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. The company had revenue of C$12.88 billion for the quarter, compared to analysts’ expectations of C$12.27 billion. As a group, research analysts forecast that Manulife Financial will post 3.6104452 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.60 annualized dividend and a dividend yield of 3.62%. Manulife Financial’s payout ratio is currently 68.09%.

Insider Buying and Selling at Manulife Financial

In other news, Director Matthew Lyman Macinnis sold 6,708 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total value of C$232,566.36. In other news, Director Tin Ku sold 2,166 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total value of C$81,116.70. Following the completion of the transaction, the director now owns 253 shares in the company, valued at C$9,474.85. The trade was a 0.00 % decrease in their ownership of the stock. Also, Director Matthew Lyman Macinnis sold 6,708 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of C$34.67, for a total value of C$232,566.36. Over the last 90 days, insiders sold 68,821 shares of company stock worth $2,455,596. 0.03% of the stock is owned by insiders.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.