Scotiabank downgraded shares of Manulife Financial (TSE:MFC – Free Report) (NYSE:MFC) from a sector outperform rating to a hold rating in a report published on Wednesday, Marketbeat reports. Scotiabank currently has C$67.00 price target on the financial services provider’s stock.
A number of other brokerages have also commented on MFC. Royal Bank Of Canada raised their price target on Manulife Financial from C$55.00 to C$67.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Desjardins upped their price objective on shares of Manulife Financial from C$63.00 to C$68.00 and gave the stock a “buy” rating in a report on Friday, August 7th. TD increased their target price on shares of Manulife Financial from C$65.00 to C$67.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. National Bank Financial decreased their target price on shares of Manulife Financial from C$69.00 to C$68.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. Finally, Barclays raised their target price on shares of Manulife Financial from C$56.00 to C$59.00 and gave the company an “equal weight” rating in a research note on Thursday, August 6th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Manulife Financial has a consensus rating of “Moderate Buy” and an average price target of C$66.45.
Check Out Our Latest Stock Analysis on MFC
Manulife Financial Stock Performance
MFC opened at C$62.37 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 2.58 and a debt-to-equity ratio of 26.52. The business’s 50 day moving average is C$61.16 and its 200-day moving average is C$55.54. The stock has a market cap of C$103.18 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 1.01 and a beta of 0.59. Manulife Financial has a twelve month low of C$44.23 and a twelve month high of C$63.98.
Manulife Financial (TSE:MFC – Get Free Report) (NYSE:MFC) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported C$1.09 earnings per share (EPS) for the quarter. Manulife Financial had a return on equity of 12.98% and a net margin of 11.62%. The business had revenue of C$20.34 billion during the quarter. On average, analysts predict that Manulife Financial will post 3.61 earnings per share for the current year.
Manulife Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Monday, September 21st were given a dividend of $0.4850 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.1%. Manulife Financial’s payout ratio is 50.14%.
Insider Activity at Manulife Financial
In other news, insider Patrick David Graham sold 6,843 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of C$62.06, for a total transaction of C$424,676.58. 0.03% of the stock is currently owned by corporate insiders.
Manulife Financial Company Profile
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.
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