Manulife Financial (TSE:MFC) Given New C$34.00 Price Target at National Bankshares

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price hoisted by National Bankshares from C$33.00 to C$34.00 in a research note published on Friday morning, BayStreet.CA reports. They currently have a sector perform rating on the financial services provider’s stock.

MFC has been the subject of several other reports. Desjardins raised Manulife Financial from a hold rating to a buy rating and increased their price objective for the stock from C$29.00 to C$36.00 in a research note on Friday, February 16th. Scotiabank upped their target price on shares of Manulife Financial from C$35.00 to C$40.00 and gave the stock an outperform rating in a research note on Friday, February 16th. CIBC upped their price objective on shares of Manulife Financial from C$30.00 to C$34.00 and gave the stock a neutral rating in a research report on Friday, February 16th. Veritas Investment Research reissued a reduce rating on shares of Manulife Financial in a research report on Friday, February 16th. Finally, BMO Capital Markets increased their price target on Manulife Financial from C$35.00 to C$40.00 in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Manulife Financial presently has a consensus rating of Moderate Buy and an average price target of C$36.40.

Manulife Financial Stock Performance

TSE MFC opened at C$32.07 on Friday. The company has a market cap of C$58.05 billion, a P/E ratio of 12.29, a PEG ratio of 12.56 and a beta of 1.09. The company has a fifty day simple moving average of C$32.60 and a 200 day simple moving average of C$29.29. The company has a current ratio of 3.79, a quick ratio of 2.58 and a debt-to-equity ratio of 45.69. Manulife Financial has a 12-month low of C$23.69 and a 12-month high of C$34.05.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings data on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.84 by C$0.08. The firm had revenue of C$14.92 billion for the quarter, compared to analyst estimates of C$10.24 billion. Manulife Financial had a net margin of 20.05% and a return on equity of 11.57%. Sell-side analysts predict that Manulife Financial will post 3.6893764 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.99%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, February 27th. Manulife Financial’s dividend payout ratio is 61.30%.

Insiders Place Their Bets

In other news, Director Brooks Tingle sold 3,317 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$108,664.92. In other news, Director Brooks Tingle sold 3,317 shares of Manulife Financial stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$108,664.92. Also, Senior Officer Steve Finch sold 10,294 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total transaction of C$337,231.44. Company insiders own 0.02% of the company’s stock.

Manulife Financial Company Profile

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.