Manulife Financial (TSE:MFC) Price Target Lowered to C$46.00 at Jefferies Financial Group

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target decreased by Jefferies Financial Group from C$51.00 to C$46.00 in a research note released on Monday,BayStreet.CA reports.

MFC has been the subject of several other reports. Royal Bank of Canada set a C$51.00 price target on Manulife Financial and gave the company an “outperform” rating in a report on Tuesday, April 15th. CIBC raised their price target on Manulife Financial from C$47.00 to C$48.00 in a research note on Friday, February 21st. Barclays dropped their price objective on shares of Manulife Financial from C$49.00 to C$45.00 in a research note on Friday, April 11th. Finally, TD Securities raised their target price on shares of Manulife Financial from C$48.00 to C$49.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$46.10.

Manulife Financial Trading Down 0.8 %

Manulife Financial stock opened at C$39.32 on Monday. Manulife Financial has a 52 week low of C$31.52 and a 52 week high of C$46.42. The stock has a market cap of C$68.97 billion, a PE ratio of 12.24, a P/E/G ratio of 1.01 and a beta of 1.06. The stock has a 50-day moving average price of C$42.29 and a 200 day moving average price of C$43.08.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 19th were given a $0.44 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, March 5th. This represents a $1.76 annualized dividend and a yield of 4.48%. Manulife Financial’s dividend payout ratio (DPR) is 49.79%.

Insider Transactions at Manulife Financial

In other news, Director Kenneth Michael Ross sold 3,219 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of C$44.91, for a total transaction of C$144,572.68. Also, Director Brooks Tingle sold 3,866 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of C$43.43, for a total value of C$167,882.21. Over the last three months, insiders have sold 18,683 shares of company stock valued at $816,102. Corporate insiders own 0.03% of the company’s stock.

Manulife Financial Company Profile

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada’s Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.