Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price hoisted by CIBC from C$27.00 to C$29.00 in a report released on Friday morning, BayStreet.CA reports.

MFC has been the topic of several other reports. Royal Bank of Canada reiterated an outperform rating and issued a C$30.00 price objective on shares of Manulife Financial in a report on Friday, August 9th. Desjardins upped their price objective on shares of Manulife Financial from C$29.00 to C$31.00 in a report on Friday. Evercore decreased their price objective on shares of Manulife Financial from C$24.50 to C$24.00 in a report on Thursday, August 8th. Evercore ISI decreased their price objective on shares of Manulife Financial from C$24.50 to C$24.00 in a report on Thursday, August 8th. Finally, Cormark upped their price objective on shares of Manulife Financial from C$30.00 to C$31.00 in a report on Friday, August 9th.

TSE:MFC opened at C$26.07 on Friday. Manulife Financial has a one year low of C$18.33 and a one year high of C$26.44. The company has a market cap of $50.92 billion and a P/E ratio of 9.13. The firm’s fifty day moving average price is C$24.36 and its two-hundred day moving average price is C$23.69. The company has a debt-to-equity ratio of 42.05, a current ratio of 4.96 and a quick ratio of 1.88.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be paid a $0.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 3.84%. Manulife Financial’s dividend payout ratio (DPR) is presently 35.01%.

In other Manulife Financial news, Senior Officer Steve Finch sold 14,257 shares of Manulife Financial stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of C$21.98, for a total value of C$313,357.45. Following the completion of the sale, the insider now owns 6,214 shares in the company, valued at approximately C$136,578.75. Also, Director Brian Collins sold 1,962 shares of Manulife Financial stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of C$21.98, for a total transaction of C$43,123.19.

Manulife Financial Company Profile

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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