Manulife Financial (MFC) Price Target Increased to C$31.00 by Analysts at Barclays

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target increased by Barclays from C$30.00 to C$31.00 in a report published on Thursday.

MFC has been the subject of a number of other research reports. TD Securities raised their price target on Manulife Financial from C$28.00 to C$30.00 and gave the stock a hold rating in a research note on Tuesday, January 9th. National Bank Financial raised their price target on Manulife Financial from C$27.00 to C$29.00 and gave the stock a sector perform rating in a research note on Thursday, November 9th. CSFB increased their price objective on Manulife Financial from C$28.00 to C$31.00 in a report on Wednesday, November 1st. Desjardins increased their price objective on Manulife Financial from C$28.00 to C$30.00 in a report on Monday, November 13th. Finally, BMO Capital Markets reiterated an outperform rating and issued a C$30.00 price objective on shares of Manulife Financial in a report on Wednesday, October 11th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of C$30.00.

Shares of Manulife Financial (MFC) opened at C$27.21 on Thursday. Manulife Financial has a 52 week low of C$22.39 and a 52 week high of C$27.54. The company has a market capitalization of $53,920.00, a price-to-earnings ratio of 14.95 and a beta of 0.99.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 21st were issued a $0.205 dividend. The ex-dividend date was Monday, November 20th. This represents a $0.82 dividend on an annualized basis and a yield of 3.01%. Manulife Financial’s dividend payout ratio (DPR) is 43.96%.

In related news, Director Rocco Gori purchased 60,694 shares of Manulife Financial stock in a transaction dated Friday, December 15th. The stock was purchased at an average cost of C$26.70 per share, for a total transaction of C$1,620,529.80. Also, insider Warren A. Thomson sold 11,300 shares of the firm’s 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.

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Manulife Financial 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 (TSE:MFC)

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