Royal Bank of Canada Boosts Manulife Financial (TSE:MFC) Price Target to C$32.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price lifted by Royal Bank of Canada from C$30.00 to C$32.00 in a research report released on Friday morning, BayStreet.CA reports. The firm currently has a sector perform rating on the financial services provider’s stock.

Several other equities analysts have also commented on the company. Scotiabank reduced their price objective on Manulife Financial from C$32.00 to C$30.00 and set an outperform rating on the stock in a research report on Friday, November 3rd. CIBC raised their price target on Manulife Financial from C$27.00 to C$28.00 in a research report on Friday, August 11th. Cormark raised their price target on Manulife Financial from C$28.00 to C$29.00 in a research report on Friday. TD Securities increased their price objective on Manulife Financial from C$32.00 to C$33.00 and gave the stock an action list buy rating in a report on Thursday. Finally, Barclays increased their price objective on Manulife Financial from C$31.00 to C$33.00 in a report on Friday, August 11th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of C$29.67.

Manulife Financial Price Performance

Shares of Manulife Financial stock opened at C$25.79 on Friday. The company has a current ratio of 126.59, a quick ratio of 2.58 and a debt-to-equity ratio of 48.26. The firm has a market capitalization of C$46.94 billion, a PE ratio of 3.85, a price-to-earnings-growth ratio of 11.85 and a beta of 1.10. The business’s 50-day moving average price is C$25.03 and its 200-day moving average price is C$25.31. Manulife Financial has a 12 month low of C$23.02 and a 12 month high of C$27.50.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Wednesday, November 22nd will be paid a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date of this dividend is Tuesday, November 21st. Manulife Financial’s payout ratio is 21.79%.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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.