Manulife Financial (TSE:MFC) Given New C$51.00 Price Target at Jefferies Financial Group

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective hoisted by Jefferies Financial Group from C$50.00 to C$51.00 in a report released on Thursday morning,BayStreet.CA reports.

A number of other analysts have also recently weighed in on MFC. TD Securities raised their target price on shares of Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Scotiabank raised their price objective on Manulife Financial from C$48.00 to C$49.00 in a research note on Friday, November 8th. Cormark lifted their target price on Manulife Financial from C$47.00 to C$48.00 in a report on Thursday, November 21st. CIBC upped their target price on Manulife Financial from C$46.00 to C$47.00 in a report on Thursday. Finally, National Bankshares lifted their price target on Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Manulife Financial has a consensus rating of “Moderate Buy” and a consensus price target of C$44.55.

Manulife Financial Price Performance

TSE MFC opened at C$44.15 on Thursday. Manulife Financial has a 12 month low of C$28.95 and a 12 month high of C$46.42. The firm has a market capitalization of C$78.15 billion, a PE ratio of 18.79, a P/E/G ratio of 1.01 and a beta of 1.06. The company’s 50 day simple moving average is C$44.25 and its 200 day simple moving average is C$40.76. 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 (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported C$1.00 EPS for the quarter, topping analysts’ consensus estimates of C$0.95 by C$0.05. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. During the same period in the prior year, the firm posted $0.92 EPS. As a group, equities research analysts forecast that Manulife Financial will post 3.6104452 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Wednesday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is presently 68.09%.

Insider Activity at Manulife Financial

In other news, Director Anthony Alex Silva sold 1,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of C$45.22, for a total transaction of C$45,218.70. Also, Senior Officer Steve Finch sold 11,598 shares of the business’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 value of C$534,308.26. In the last quarter, insiders sold 77,771 shares of company stock valued at $3,508,584. 0.03% of the stock is owned by corporate 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.