Manulife Financial Corp. (MFC) Given Average Recommendation of “Buy” by Brokerages
Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) has earned an average recommendation of “Buy” from the twelve ratings firms that are currently covering the stock. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$26.55.
Several research analysts have weighed in on the company. Canaccord Genuity boosted their price target on Manulife Financial Corp. from C$21.00 to C$26.00 in a research report on Friday, January 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a C$26.00 price target on shares of Manulife Financial Corp. in a research report on Friday, February 10th. CIBC boosted their price target on Manulife Financial Corp. from C$23.00 to C$27.00 in a research report on Friday, February 10th. Dundee Securities boosted their price target on Manulife Financial Corp. from C$17.00 to C$28.00 in a research report on Friday, February 10th. Finally, Scotiabank reissued an “outperform” rating and set a C$28.00 target price on shares of Manulife Financial Corp. in a report on Friday, February 10th.
In other Manulife Financial Corp. news, Director Joseph Peter Caron purchased 2,045 shares of the stock in a transaction dated Tuesday, May 9th. The stock was bought at an average price of C$24.66 per share, with a total value of C$50,429.70.
Manulife Financial Corp. (TSE:MFC) traded down 0.40% during trading on Friday, reaching $23.62. The company had a trading volume of 531,962 shares. Manulife Financial Corp. has a 52-week low of $16.43 and a 52-week high of $25.57. The company has a market capitalization of $46.69 billion and a PE ratio of 15.13. The company has a 50 day moving average price of $23.65 and a 200 day moving average price of $23.60.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 19th. Stockholders of record on Tuesday, May 16th will be issued a dividend of $0.205 per share. The ex-dividend date is Friday, May 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.43%.
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About Manulife Financial Corp.
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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