Evercore ISI Trims Manulife Financial (TSE:MFC) Target Price to C$24.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target decreased by Evercore ISI from C$24.50 to C$24.00 in a report issued on Thursday, Stock Target Advisor reports.

A number of other research firms have also recently weighed in on MFC. CIBC raised their price target on Manulife Financial from C$26.50 to C$27.00 in a research note on Friday, May 3rd. Eight Capital raised their price target on Manulife Financial from C$28.00 to C$30.00 in a research note on Friday, May 3rd. Morgan Stanley lifted their target price on Manulife Financial from C$25.00 to C$26.00 in a research report on Friday, May 3rd. Evercore cut their target price on Manulife Financial from C$24.50 to C$24.00 in a research report on Thursday. Finally, Desjardins lifted their target price on Manulife Financial from C$27.00 to C$28.00 in a research report on Monday, April 15th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of C$28.08.

Manulife Financial stock opened at C$22.16 on Thursday. Manulife Financial has a 1-year low of C$18.33 and a 1-year high of C$25.18. The company has a debt-to-equity ratio of 39.39, a quick ratio of 1.88 and a current ratio of 4.96. The firm has a market capitalization of $43.48 billion and a PE ratio of 8.10. The company has a fifty day simple moving average of C$23.82.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date is Monday, August 19th. Manulife Financial’s dividend payout ratio (DPR) is currently 35.45%.

In other news, Senior Officer Steve Finch sold 14,256 shares of Manulife Financial stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of C$23.55, for a total transaction of C$335,764.44. Following the sale, the insider now owns 6,214 shares in the company, valued at C$146,355.24. Also, Director Brian Collins sold 1,962 shares of Manulife Financial stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of C$23.55, for a total value of C$46,210.01. Insiders have sold 34,369 shares of company stock worth $801,444 in the last quarter.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.

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Analyst Recommendations for Manulife Financial (TSE:MFC)

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