Manulife Financial (MFC) Given New C$28.00 Price Target at TD Securities
Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price trimmed by TD Securities from C$30.00 to C$28.00 in a research note published on Thursday morning. The firm currently has a hold rating on the financial services provider’s stock.
Several other research analysts have also weighed in on the stock. National Bank Financial upped their price objective on shares of Manulife Financial from C$29.00 to C$30.00 and gave the company a sector perform rating in a research note on Wednesday, December 27th. CSFB upped their price objective on shares of Manulife Financial from C$28.00 to C$31.00 in a research note on Wednesday, November 1st. BMO Capital Markets reiterated an outperform rating and issued a C$30.00 price objective on shares of Manulife Financial in a research note on Wednesday, October 11th. Royal Bank of Canada boosted 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 Friday, November 10th. Finally, Barclays boosted their target price on shares of Manulife Financial from C$30.00 to C$31.00 in a research report on Thursday, January 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of C$30.25.
Manulife Financial (MFC) opened at C$25.08 on Thursday. The firm has a market cap of $49,700.00, a P/E ratio of 25.59 and a beta of 0.92. Manulife Financial has a 12 month low of C$22.39 and a 12 month high of C$27.60.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 19th. Shareholders of record on Wednesday, February 21st will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.51%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, February 20th. Manulife Financial’s payout ratio is currently 83.67%.
In other news, Director Rocco Gori acquired 60,694 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was acquired at an average cost of C$26.70 per share, with a total value of C$1,620,529.80. Also, Director P. Thomas Jenkins sold 4,500 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of C$21.09, for a total transaction of C$94,905.00.
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About Manulife Financial
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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