Manulife Financial Price Target Raised to C$47.00

On January 7th, 2025, Barclays increased the price target for Manulife Financial (TSE:MFC – Free Report) (NYSE:MFC) from C$40.00 to C$47.00 according to a recent research report. This adjustment reflects confidence in the company's performance in the financial sector.

Furthermore, analysts from other firms have also updated their outlook on Manulife Financial. TD Securities raised their target price from C$45.00 to C$48.00, designating the stock with a ‘buy’ rating in a report dated November 7th. Additionally, Scotiabank adjusted their price target from C$48.00 to C$49.00 in a report published on November 8th. CIBC also increased their target price from C$42.00 to C$46.00 in the same week. National Bankshares raised their price target from C$45.00 to C$47.00 on November 7th, while Cormark elevated their price objective from C$47.00 to C$48.00 on November 21st.

The overall sentiment from analysts is notably positive, with one analyst issuing a sell rating, three assigning a hold rating, eight giving a buy rating, and one issuing a strong buy rating. Data from MarketBeat reveals a consensus rating of 'Moderate Buy' for the stock, with an average target price of C$44.09.

Current Trading Activity of Manulife Financial

On the trading front, shares of Manulife Financial opened at C$44.17 on Monday. The company reports a current ratio of 36.68, a quick ratio of 2.58, and a debt-to-equity ratio of 49.60. Their market capitalization stands at C$78.18 billion, with a price-to-earnings (PE) ratio of 18.80 and a price-to-earnings growth (PEG) ratio of 1.01. Over the past year, the stock has seen a low of C$28.06 and a high of C$46.42, with a fifty-day moving average of C$44.19 and a 200-day moving average of C$39.85.

Dividend Information

In recent corporate news, Manulife Financial announced a quarterly dividend of $0.40, which was paid to shareholders on December 19th. The dividend applies to those who were shareholders of record on November 20th, with the ex-dividend date also being November 20th. This translates to an annualized dividend of $1.60 and a yield of 3.62%. Currently, the company has a dividend payout ratio of 68.09%.

Insider Transactions

Recent insider trading activity includes Director Brooks Tingle selling 3,866 shares on November 14th at an average price of C$46.07, totaling C$178,102.75. Additionally, Senior Officer James D. Gallagher sold 57,064 shares on November 26th, receiving C$2,556,638.39 at an average price of C$44.80. In total, insiders sold 77,771 shares worth $3,508,584 within the last ninety days, and insiders currently hold 0.03% of the company's stock.

Company Overview

Manulife Financial Corporation, along with its subsidiaries, provides an array of financial products and services across multiple regions, including the United States, Canada, and Asia. The company's operations are divided into various segments: Wealth and Asset Management, Insurance and Annuity Products, and Corporate and Other segments. Specifically, the Wealth and Asset Management segment delivers investment advice and solutions tailored for retirement, retail, and institutional clients through diverse distribution channels.

Manulife, Stocks, Investment