Manulife Financial (TSE:MFC) Given New C$37.00 Price Target at Evercore

Manulife Financial (TSE:MFCFree Report) (NYSE:MFC) had its price objective lifted by Evercore from C$36.00 to C$37.00 in a research report sent to investors on Friday, BayStreet.CA reports.

A number of other research analysts also recently issued reports on the stock. Cormark raised shares of Manulife Financial from a market perform rating to a buy rating and lifted their price objective for the stock from C$33.00 to C$36.00 in a research report on Friday, February 16th. National Bank Financial raised Manulife Financial from a sector perform market weight rating to an outperform market weight rating in a research report on Wednesday. Scotiabank boosted their target price on Manulife Financial from C$35.00 to C$40.00 and gave the stock an outperform rating in a research note on Friday, February 16th. TD Securities increased their price target on Manulife Financial from C$37.00 to C$38.00 and gave the company a buy rating in a research note on Thursday. Finally, National Bankshares upgraded Manulife Financial from a sector perform rating to an outperform rating and boosted their price target for the stock from C$34.00 to C$38.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of C$37.30.

Check Out Our Latest Research Report on Manulife Financial

Manulife Financial Stock Up 1.2 %

Shares of MFC traded up C$0.41 during midday trading on Friday, reaching C$35.60. 8,964,709 shares of the stock were exchanged, compared to its average volume of 6,185,018. The company has a current ratio of 3.79, a quick ratio of 2.58 and a debt-to-equity ratio of 45.69. The company’s 50 day moving average is C$32.67 and its two-hundred day moving average is C$29.80. The company has a market capitalization of C$64.08 billion, a P/E ratio of 13.64, a PEG ratio of 12.56 and a beta of 1.09. Manulife Financial has a 52 week low of C$23.69 and a 52 week high of C$35.69.

Manulife Financial (TSE:MFCGet Free Report) (NYSE:MFC) last posted its earnings results on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.08. Manulife Financial had a return on equity of 11.57% and a net margin of 20.05%. The company had revenue of C$14.92 billion during the quarter, compared to analyst estimates of C$10.24 billion. On average, sell-side analysts anticipate that Manulife Financial will post 3.6797312 earnings per share for the current year.

Manulife Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.49%. The ex-dividend date is Tuesday, May 21st. Manulife Financial’s payout ratio is 61.30%.

Insider Transactions at Manulife Financial

In other Manulife Financial news, Senior Officer Steve Finch sold 10,294 shares of Manulife Financial stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$337,231.44. In related news, Director Brooks Tingle sold 3,317 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$108,664.92. Also, Senior Officer Steve Finch sold 10,294 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total transaction of C$337,231.44. Company insiders own 0.02% of the company’s stock.

Manulife Financial Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Manulife Financial (TSE:MFC)

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