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Equities researchers at Canaccord Genuity initiated coverage on shares of Manulife Financial Corp. (TSE:MFC) in a research report issued on Monday. The firm set a “buy” rating and a C$22.00 price target on the stock. Canaccord Genuity’s target price suggests a potential upside of 9.78% from the company’s current price.

Shares of Manulife Financial Corp. (TSE:MFC) opened at 20.04 on Monday. Manulife Financial Corp. has a 1-year low of $15.70 and a 1-year high of $22.22. The stock’s 50-day moving average is $20.45 and its 200-day moving average is $20.66. The company has a market cap of $37.154 billion and a P/E ratio of 11.32.

Manulife Financial Corp. (TSE:MFC) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.37 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.40 by $0.03. On average, analysts predict that Manulife Financial Corp. will post $1.61 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Thursday, June 19th. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Friday, May 9th.

Manulife Financial Corporation (TSE:MFC) is a Canada-based financial services group with principal operations in Asia, Canada and the United States.

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