Manulife Financial (TSE:MFC) Given a C$58.00 Price Target by Desjardins Analysts

Desjardins set a C$58.00 price target on Manulife Financial (TSE:MFC) (NYSE:MFC) in a research report released on Friday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the financial services provider’s stock.

MFC has been the topic of several other research reports. Royal Bank Of Canada lifted their target price on shares of Manulife Financial from C$52.00 to C$55.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Jefferies Financial Group lifted their target price on shares of Manulife Financial from C$54.00 to C$58.00 in a report on Monday, February 2nd. Barclays lifted their target price on shares of Manulife Financial from C$49.00 to C$52.00 in a report on Friday, January 9th. TD Securities reduced their target price on shares of Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, Scotiabank lifted their target price on shares of Manulife Financial from C$55.00 to C$56.00 and gave the company an “outperform” rating in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$56.00.

Manulife Financial Stock Up 0.4%

Shares of TSE MFC opened at C$53.20 on Friday. The company has a quick ratio of 2.58, a current ratio of 2.12 and a debt-to-equity ratio of 28.80. The stock has a market capitalization of C$88.96 billion, a PE ratio of 17.33, a P/E/G ratio of 1.01 and a beta of 0.71. The firm has a fifty day moving average of C$48.73 and a 200-day moving average of C$48.56. Manulife Financial has a 52-week low of C$38.93 and a 52-week high of C$53.60.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results on Wednesday, February 11th. The financial services provider reported C$1.12 earnings per share for the quarter. The business had revenue of C$22.03 billion for the quarter. Manulife Financial had a net margin of 10.91% and a return on equity of 11.34%. On average, analysts anticipate that Manulife Financial will post 3.6104452 EPS for the current year.

Manulife Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 19th were issued a $0.485 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $1.94 dividend on an annualized basis and a yield of 3.6%. Manulife Financial’s payout ratio is currently 57.33%.

Insider Buying and Selling

In other Manulife Financial news, Director Adam Thomas Wise sold 3,500 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of C$46.47, for a total value of C$162,645.00. Following the transaction, the director owned 2,497 shares in the company, valued at C$116,035.59. The trade was a 58.36% decrease in their position. 0.03% of the stock is owned by corporate insiders.

About Manulife Financial

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.