Manulife Financial (TSE:MFC – Free Report) (NYSE:MFC) had its price objective raised by TD Securities from C$40.00 to C$41.00 in a research report released on Friday, BayStreet.CA reports.
MFC has been the subject of several other reports. National Bank Financial upgraded Manulife Financial from a sector perform market weight rating to an outperform market weight rating in a research report on Wednesday, May 8th. CIBC upped their price objective on shares of Manulife Financial from C$34.00 to C$36.00 in a research report on Friday, May 10th. Evercore raised their target price on shares of Manulife Financial from C$36.00 to C$37.00 in a research note on Friday, May 10th. National Bankshares raised shares of Manulife Financial from a sector perform rating to an outperform rating and boosted their price target for the stock from C$34.00 to C$38.00 in a research note on Thursday, May 9th. Finally, BMO Capital Markets raised their price objective on shares of Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of C$37.60.
Check Out Our Latest Report on MFC
Manulife Financial Trading Down 0.3 %
Manulife Financial (TSE:MFC – Get Free Report) (NYSE:MFC) last posted its earnings results on Wednesday, May 8th. The financial services provider reported C$0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.90 by C$0.04. The business had revenue of C$12.80 billion for the quarter, compared to analysts’ expectations of C$12.13 billion. Manulife Financial had a net margin of 18.29% and a return on equity of 10.48%. On average, equities analysts forecast that Manulife Financial will post 3.6078629 EPS for the current fiscal year.
Manulife Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.32%. The ex-dividend date was Tuesday, May 21st. Manulife Financial’s dividend payout ratio is presently 70.18%.
Insider Activity
In other Manulife Financial news, Director Rocco Gori sold 48,640 shares of Manulife Financial stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of C$35.25, for a total value of C$1,714,560.00. In related news, Senior Officer Steve Finch sold 11,598 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of C$35.29, for a total value of C$409,293.42. Also, Director Rocco Gori sold 48,640 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of C$35.25, for a total value of C$1,714,560.00. Over the last three months, insiders have sold 157,878 shares of company stock valued at $5,557,706. 0.02% of the stock is currently owned by 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.
Recommended Stories
- Five stocks we like better than Manulife Financial
- What Are Dividend Achievers? An Introduction
- Top 3 Defense Stocks That Should Be on Your Radar
- How to Use the MarketBeat Dividend Calculator
- Why This Banking Stock Might Be Nearing the Bottom of Its Cycle
- What is a Dividend King?
- MarketBeat Week in Review – 7/8 – 7/12
Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.