Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have been assigned a consensus rating of “Buy” from the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$25.59.
A number of brokerages recently commented on MFC. National Bank Financial raised their price objective on shares of Manulife Financial from C$25.00 to C$27.00 and gave the company a “sector perform” rating in a research report on Friday, February 12th. CSFB raised their price objective on shares of Manulife Financial from C$25.00 to C$26.00 in a research report on Friday, February 12th. Evercore raised their price objective on shares of Manulife Financial from C$24.50 to C$25.00 in a research report on Wednesday, March 3rd. Scotiabank raised their price objective on shares of Manulife Financial from C$23.00 to C$25.00 in a research report on Friday, January 29th. Finally, CIBC restated an “outperform” rating and issued a C$26.00 price objective (up previously from C$25.50) on shares of Manulife Financial in a research report on Friday, February 12th.
In other news, Director Michael James Doughty sold 56,807 shares of Manulife Financial stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of C$24.89, for a total transaction of C$1,414,193.22. Following the completion of the sale, the director now directly owns 4,183 shares in the company, valued at approximately C$104,134.53. Also, Senior Officer Steve Finch sold 13,875 shares of the firm’s stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of C$24.89, for a total transaction of C$345,413.96. Following the transaction, the insider now directly owns 7,658 shares of the company’s stock, valued at C$190,643.61.
Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings results on Wednesday, February 10th. The financial services provider reported C$0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.69 by C$0.05. The company had revenue of C$17.87 billion for the quarter. As a group, analysts forecast that Manulife Financial will post 3.4099998 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 19th. Stockholders of record on Tuesday, February 23rd were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, February 22nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.15%. Manulife Financial’s payout ratio is 38.23%.
Manulife Financial Company Profile
Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; And Corporate and Other segments. The Wealth and Asset Management Businesses segment provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.
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