Manulife Financial (TSE:MFC) Price Target Raised to C$57.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price hoisted by TD Securities from C$54.00 to C$57.00 in a research note released on Thursday,BayStreet.CA reports.

Other analysts also recently issued reports about the company. CIBC raised their target price on Manulife Financial from C$44.00 to C$49.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. National Bankshares increased their price target on Manulife Financial from C$47.00 to C$52.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Royal Bank Of Canada lowered their price objective on Manulife Financial from C$51.00 to C$49.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Desjardins lifted their price objective on Manulife Financial from C$48.00 to C$52.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, Barclays increased their target price on Manulife Financial from C$47.00 to C$48.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Manulife Financial has an average rating of “Moderate Buy” and an average target price of C$50.56.

Manulife Financial Stock Down 0.1%

MFC opened at C$48.26 on Thursday. The firm’s 50 day moving average is C$44.81 and its 200-day moving average is C$43.49. Manulife Financial has a 52-week low of C$36.93 and a 52-week high of C$49.82. The firm has a market capitalization of C$81.55 billion, a P/E ratio of 15.57, a P/E/G ratio of 1.01 and a beta of 0.94.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its earnings results on Wednesday, November 12th. The financial services provider reported C$1.02 earnings per share for the quarter. The business had revenue of C$43.35 billion during the quarter. Manulife Financial had a net margin of 12.52% and a return on equity of 11.75%. Equities analysts expect that Manulife Financial will post 3.6104452 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 19th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, August 20th. Manulife Financial’s payout ratio is currently 54.19%.

Manulife Financial Company Profile

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada’s Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.