Manulife Financial Corp. (MFC) Given Average Recommendation of “Buy” by Brokerages
Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) has received an average recommendation of “Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$26.83.
Several analysts have commented on MFC shares. Barclays PLC upped their target price on shares of Manulife Financial Corp. from C$28.00 to C$29.00 in a research report on Wednesday, July 12th. Royal Bank Of Canada upped their target price on shares of Manulife Financial Corp. from C$26.00 to C$28.00 and gave the company an “outperform” rating in a research report on Friday, August 11th. Finally, National Bank Financial upped their target price on shares of Manulife Financial Corp. from C$26.00 to C$27.00 and gave the company a “sector perform” rating in a research report on Thursday, August 10th.
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In related news, insider Stephani Kingsmill sold 10,400 shares of the company’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of C$24.61, for a total value of C$255,944.00.
Manulife Financial Corp. (MFC) traded down 0.57% during midday trading on Friday, hitting $24.27. The stock had a trading volume of 15,702,286 shares. Manulife Financial Corp. has a one year low of $17.96 and a one year high of $26.11. The stock’s 50-day moving average is $24.80 and its 200-day moving average is $24.20. The company has a market cap of $48.01 billion and a P/E ratio of 13.26.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Tuesday, August 22nd will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, August 18th.
Manulife Financial Corp. Company Profile
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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