Manulife Financial Corp. (TSE:MFC) Receives Average Recommendation of “Buy” from Analysts
Manulife Financial Corp. (TSE:MFC) has been assigned a consensus rating of “Buy” from the thirteen ratings firms that are presently covering the company. Two equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$20.77.
A number of equities research analysts recently issued reports on the stock. CSFB dropped their price objective on shares of Manulife Financial Corp. from C$22.00 to C$21.00 in a report on Saturday, August 6th. BMO Capital Markets dropped their price objective on shares of Manulife Financial Corp. from C$24.00 to C$21.00 in a report on Saturday, August 6th. Barclays PLC dropped their price objective on shares of Manulife Financial Corp. from C$20.00 to C$19.00 and set an “overweight” rating for the company in a report on Saturday, August 6th. RBC Capital Markets dropped their price objective on shares of Manulife Financial Corp. from C$22.00 to C$21.00 and set an “outperform” rating for the company in a report on Saturday, August 6th. Finally, Desjardins set a C$21.00 price objective on shares of Manulife Financial Corp. and gave the company a “buy” rating in a report on Saturday, August 6th.
Manulife Financial Corp. (TSE:MFC) traded down 0.47% during midday trading on Friday, hitting $19.12. 3,034,303 shares of the stock traded hands. The company’s 50-day moving average is $18.07 and its 200 day moving average is $18.10. The firm has a market cap of $37.72 billion and a P/E ratio of 15.17. Manulife Financial Corp. has a 12-month low of $15.32 and a 12-month high of $22.65.
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Tuesday, August 16th were paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend was Friday, August 12th.
Manulife Financial Corp. Company Profile
Manulife Financial Corporation (MFC) is a life insurance company. The Company is a holding company of The Manufacturers Life Insurance Company (MLI), a Canadian life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), a Bermuda reinsurance company. The Company’s segments, including Asia Division, Canadian Division, U.S.
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