Cormark Increases Manulife Financial (TSE:MFC) Price Target to C$48.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target upped by Cormark from C$47.00 to C$48.00 in a report issued on Thursday,BayStreet.CA reports.

MFC has been the subject of several other research reports. National Bankshares raised their price target on shares of Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Scotiabank raised their price target on shares of Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. Jefferies Financial Group raised their price target on shares of Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays set a C$39.00 price target on shares of Manulife Financial and gave the stock an “equal weight” rating in a report on Thursday, September 5th. Finally, Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$43.36.

Manulife Financial Stock Up 1.4 %

TSE:MFC opened at C$45.66 on Thursday. The firm’s 50 day simple moving average is C$41.49 and its 200 day simple moving average is C$37.80. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. Manulife Financial has a one year low of C$26.01 and a one year high of C$46.42. The company has a market cap of C$80.82 billion, a PE ratio of 19.43, a P/E/G ratio of 1.01 and a beta of 1.06.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is presently 68.09%.

Insider Activity

In related news, Senior Officer Steve Finch sold 11,598 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total transaction of C$534,308.26. Also, Director Brooks Tingle sold 3,866 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of C$46.07, for a total value of C$178,102.75. Over the last 90 days, insiders sold 17,630 shares of company stock valued at $793,528. 0.03% of the stock is currently owned by company insiders.

About Manulife Financial

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.