Manulife Financial Corp. (MFC) Receives “Buy” Rating from Dundee Securities
Manulife Financial Corp. (TSE:MFC)‘s stock had its “buy” rating restated by equities researchers at Dundee Securities in a research note issued on Wednesday. They presently have a C$22.00 target price on the stock. Dundee Securities’ price objective would indicate a potential upside of 19.83% from the stock’s current price.
Several other analysts have also recently issued reports on MFC. Barclays PLC cut their price objective on Manulife Financial Corp. from C$21.00 to C$20.00 in a research note on Tuesday, July 12th. Scotiabank cut their price objective on Manulife Financial Corp. from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a research note on Friday, August 5th. TD Securities restated a “hold” rating and set a C$19.00 price objective on shares of Manulife Financial Corp. in a research note on Friday, August 5th. BMO Capital Markets cut their price objective on Manulife Financial Corp. from C$24.00 to C$21.00 in a research note on Saturday, August 6th. Finally, CIBC cut Manulife Financial Corp. from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$21.00 to C$19.00 in a research note on Saturday, August 6th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of C$20.77.
Manulife Financial Corp. (TSE:MFC) traded up 1.09% during mid-day trading on Wednesday, hitting $18.56. The stock had a trading volume of 2,353,428 shares. The company has a 50-day moving average of $17.64 and a 200-day moving average of $18.09. Manulife Financial Corp. has a 12-month low of $15.32 and a 12-month high of $22.65. The stock has a market cap of $36.62 billion and a price-to-earnings ratio of 14.73.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 19th. Investors of record on Tuesday, August 16th were issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend was Friday, August 12th.
Manulife Financial Corp. Company Profile
Manulife Financial Corporation (MFC) is a life insurance company. The Company is a holding company of The Manufacturers Life Insurance Company (MLI), a Canadian life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), a Bermuda reinsurance company. The Company’s segments, including Asia Division, Canadian Division, U.S.
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