Manulife Financial Co. (MFC) Receives C$28.83 Average Target Price from Analysts

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have received an average rating of “Buy” from the twelve ratings firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is C$28.83.

Several research analysts have weighed in on the stock. National Bank Financial raised their price objective on shares of Manulife Financial from C$27.00 to C$29.00 and gave the stock a “sector perform” rating in a report on Thursday, November 9th. Barclays raised their price objective on shares of Manulife Financial from C$29.00 to C$30.00 in a report on Monday, November 13th. CSFB raised their price objective on shares of Manulife Financial from C$28.00 to C$31.00 in a report on Wednesday, November 1st. Desjardins raised their price objective on shares of Manulife Financial from C$28.00 to C$30.00 in a report on Monday, November 13th. Finally, Royal Bank Of Canada raised their price objective on shares of Manulife Financial from C$28.00 to C$30.00 and gave the stock an “outperform” rating in a report on Friday, November 10th.

In other news, insider Marianne Harrison sold 3,703 shares of Manulife Financial stock in a transaction dated Monday, September 18th. The shares were sold at an average price of C$24.26, for a total value of C$89,834.78. Also, insider Warren A. Thomson sold 11,300 shares of Manulife Financial stock in a transaction dated Monday, November 20th. The shares were sold at an average price of C$26.71, for a total transaction of C$301,823.00. Insiders sold a total of 19,503 shares of company stock valued at $486,563 over the last ninety days.

Manulife Financial (MFC) traded down C$0.12 on Thursday, reaching C$26.99. 3,827,200 shares of the company were exchanged, compared to its average volume of 3,991,780. Manulife Financial has a 1-year low of C$22.39 and a 1-year high of C$27.54.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Tuesday, November 21st will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Monday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is presently 43.96%.

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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.

Analyst Recommendations for Manulife Financial (TSE:MFC)

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