Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) – Equities researchers at National Bank Financial dropped their Q3 2018 earnings estimates for Manulife Financial in a note issued to investors on Thursday. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will post earnings per share of $0.65 for the quarter, down from their prior estimate of $0.67. National Bank Financial has a “Outperform” rating and a $31.00 price objective on the stock. National Bank Financial also issued estimates for Manulife Financial’s FY2019 earnings at $2.84 EPS.
Other research analysts also recently issued reports about the company. Barclays lifted their target price on Manulife Financial from C$29.00 to C$30.00 in a report on Monday, November 13th. Desjardins lifted their target price on Manulife Financial from C$28.00 to C$30.00 in a report on Monday, November 13th. CSFB lifted their target price on Manulife Financial from C$28.00 to C$31.00 in a report on Wednesday, November 1st. TD Securities cut their target price on Manulife Financial from C$30.00 to C$28.00 and set a “hold” rating on the stock in a report on Thursday. Finally, Scotiabank cut their target price on Manulife Financial from C$31.00 to C$30.00 and set an “outperform” rating on the stock in a report on Friday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of C$30.25.
In other news, insider Warren A. Thomson sold 11,300 shares of Manulife Financial stock in a transaction dated Monday, November 20th. The stock was sold at an average price of C$26.71, for a total value of C$301,823.00. Also, Director P. Thomas Jenkins sold 4,500 shares of Manulife Financial stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of C$21.09, for a total value of C$94,905.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Stockholders of record on Wednesday, February 21st will be given a $0.22 dividend. The ex-dividend date is Tuesday, February 20th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 3.51%. Manulife Financial’s dividend payout ratio (DPR) is 83.67%.
Manulife Financial 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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