Manulife Financial (TSE:MFC) Upgraded at Dbs Bank

Dbs Bank upgraded shares of Manulife Financial (TSE:MFC) (NYSE:MFC) to a strong-buy rating in a research report released on Thursday morning, Zacks.com reports.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets upped their price target on Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, May 10th. CIBC upped their price target on Manulife Financial from C$34.00 to C$36.00 in a research report on Friday, May 10th. Royal Bank of Canada increased their price objective on Manulife Financial from C$38.00 to C$39.00 in a report on Friday. TD Securities increased their price objective on Manulife Financial from C$40.00 to C$41.00 in a report on Friday, July 12th. Finally, Jefferies Financial Group dropped their price objective on Manulife Financial from C$43.00 to C$42.00 in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Manulife Financial has a consensus rating of Moderate Buy and an average target price of C$38.64.

Manulife Financial Stock Performance

Shares of TSE MFC traded up C$0.43 during trading on Thursday, reaching C$34.44. 6,059,671 shares of the stock traded hands, compared to its average volume of 6,368,004. Manulife Financial has a 52-week low of C$23.69 and a 52-week high of C$37.46. The company has a debt-to-equity ratio of 48.44, a current ratio of 29.14 and a quick ratio of 2.58. The company has a 50-day moving average of C$35.69 and a 200-day moving average of C$33.77. The stock has a market capitalization of C$61.99 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 12.56 and a beta of 1.10.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported C$0.94 EPS for the quarter, beating analysts’ consensus estimates of C$0.90 by C$0.04. Manulife Financial had a return on equity of 10.48% and a net margin of 18.29%. The firm had revenue of C$12.80 billion for the quarter, compared to analysts’ expectations of C$12.13 billion. 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 will be paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st will be issued a $0.40 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $1.60 annualized dividend and a dividend yield of 4.65%. Manulife Financial’s payout ratio is currently 70.18%.

Insider Buying and Selling at Manulife Financial

In other Manulife Financial 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. In other Manulife Financial news, Director Rocco Gori sold 48,640 shares of the firm’s stock in a transaction dated 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. Also, Senior Officer Steve Finch sold 11,598 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of C$35.29, for a total value of C$409,293.42. Insiders have sold a total of 157,878 shares of company stock valued at $5,557,706 in the last 90 days. Corporate 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.