Manulife Financial Target Price Increased to C$47.00

Manulife Financial (TSE:MFC – Free Report) (NYSE:MFC) has recently seen its target price raised by Barclays from C$40.00 to C$47.00, according to a research report published on Monday.

In addition to Barclays, several other research analysts have shared their insights about the company in recent weeks. For instance, TD Securities increased their target price for Manulife Financial from C$45.00 to C$48.00, reiterating a "buy" rating in a report released on Thursday, November 7th. Scotiabank also raised their price target from C$48.00 to C$49.00 in a report on Friday, November 8th. CIBC made a notable adjustment to their valuation, increasing their target price from C$42.00 to C$46.00 just a day later, while National Bankshares also lifted their target from C$45.00 to C$47.00 on the same day. Cormark, on November 21st, raised their target from C$47.00 to C$48.00 in their research report.

Among the analysts covering Manulife Financial, there is a diverse range of opinions. One analyst has assigned a sell rating on the stock, while three have opted for a hold rating. Notably, eight analysts have a buy rating, and one has issued a strong buy rating, indicating a positive outlook. According to MarketBeat, the consensus rating for the company stands at “Moderate Buy,” with a consensus target price of C$44.09.

Recent Trading Activity of Manulife Financial

On the trading side, shares of TSE MFC opened at C$44.17 on Monday. Financial metrics show the company maintaining a current ratio of 36.68, a quick ratio of 2.58, and a relatively high debt-to-equity ratio of 49.60. Manulife Financial boasts a market capitalization of C$78.18 billion, a price-to-earnings (PE) ratio of 18.80, a price-to-earnings growth (PEG) ratio of 1.01, and a beta of 1.06. Over the past year, the stock has fluctuated between a low of C$28.06 and a high of C$46.42, with its fifty-day simple moving average resting at C$44.19 compared to a 200-day simple moving average of C$39.85.

Dividend Information

Manulife Financial also recently announced a quarterly dividend of $0.40 per share, which was distributed on Thursday, December 19th. The ex-dividend date was set for November 20th. This dividend represents an annualized payout of $1.60, resulting in an attractive yield of 3.62%. Currently, the company's dividend payout ratio (DPR) is at 68.09%.

Insider Transactions

In terms of insider activity, Director Brooks Tingle sold 3,866 shares on November 14th at an average price of C$46.07, totaling C$178,102.75. Furthermore, Senior Officer James D. Gallagher sold 57,064 shares on November 26th at an average price of C$44.80 for a total value of C$2,556,638.39. In the last ninety days, insiders have sold 77,771 shares amounting to approximately $3,508,584. Currently, insiders hold 0.03% of the company's stock.

About Manulife Financial

Manulife Financial Corporation and its subsidiaries are engaged in providing a variety of financial products and services across several regions, including the United States, Canada, and Asia. The company has a diversified operational structure consisting of Wealth and Asset Management Businesses, Insurance and Annuity Products, and Corporate and Other segments. The Wealth and Asset Management Businesses provide investment advice and solutions tailored to retirement, retail, and institutional clients through an array of distribution channels.

Manulife, Financial, Stocks