Manulife Financial Co. (TSE:MFC) (NYSE:MFC) declared a quarterly dividend on Wednesday, February 12th, RTT News reports. Stockholders of record on Tuesday, February 25th will be paid a dividend of 0.28 per share by the financial services provider on Thursday, March 19th. This represents a $1.12 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Monday, February 24th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.25.
Manulife Financial stock opened at C$26.15 on Friday. The firm’s 50 day simple moving average is C$26.78 and its 200-day simple moving average is C$24.86. The company has a market cap of $51.69 billion and a P/E ratio of 10.73. The company has a debt-to-equity ratio of 46.37, a current ratio of 136.24 and a quick ratio of 60.15. Manulife Financial has a fifty-two week low of C$21.07 and a fifty-two week high of C$27.78.
MFC has been the topic of several analyst reports. National Bank Financial lifted their target price on shares of Manulife Financial from C$28.00 to C$30.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. BMO Capital Markets lifted their target price on shares of Manulife Financial from C$33.00 to C$34.00 in a research report on Wednesday, November 27th. Credit Suisse Group reissued a “neutral” rating and issued a C$29.00 target price on shares of Manulife Financial in a research report on Friday, February 7th. TD Securities lifted their target price on shares of Manulife Financial from C$31.00 to C$32.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Desjardins lifted their target price on shares of Manulife Financial from C$29.00 to C$31.00 in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of C$29.50.
About Manulife Financial
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.
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