Manulife Financial Corp. (MFC) Receives Average Rating of “Buy” from Analysts
Shares of Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) have been given an average rating of “Buy” by the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is C$26.83.
MFC has been the subject of several research reports. Barclays PLC boosted their price objective on shares of Manulife Financial Corp. from C$28.00 to C$29.00 in a research report on Wednesday, July 12th. National Bank Financial boosted their price objective 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. Finally, Royal Bank Of Canada boosted their price objective 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.
Manulife Financial Corp. (MFC) traded down 0.39% during mid-day trading on Wednesday, hitting $25.83. 627,191 shares of the stock were exchanged. The firm has a market capitalization of $51.09 billion and a price-to-earnings ratio of 14.11. The company’s 50-day moving average price is $24.66 and its 200 day moving average price is $24.31. Manulife Financial Corp. has a 52 week low of $18.83 and a 52 week high of $26.11.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Tuesday, August 22nd were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Friday, August 18th.
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In related news, insider Marianne Harrison sold 3,703 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of C$24.26, for a total transaction of C$89,834.78.
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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