Stocks of Manulife Financial Co. (TSE: MFC) (NYSE: MFC) received an average recommendation of “Hold” by the twelve research companies that currently cover the stock, reports MarketBeat. Five equity research analysts rated the stock with a hold recommendation, one gave the company a buy recommendation, and one gave the company a strong buy recommendation. The 12-month average price target among brokers who reported on the stock in the past year is C $ 31.15.
Several research companies have recently published reports on CFMs. Canaccord Genuity raised its price target for Manulife Financial shares from C $ 29.50 to C $ 30.00 in a report released on Friday August 6. TD Securities raised its price target for Manulife Financial from C $ 35.00 to C $ 36.00 and assigned the company a âbuy on share listâ rating in a report released on Thursday August 5th. CIBC reiterated a âneutralâ rating and issued a price target of C $ 27.00 for Manulife Financial shares in a research report released on Wednesday, June 30. Credit Suisse Group downgraded Manulife Financial from an âoutperformingâ rating to a âneutralâ rating in a research report published on Tuesday, August 10. Finally, Barclays raised its target price on Manulife Financial to C $ 38.50 and assigned the stock a ânaâ rating in a research report on Monday, July 12.
In other news from Manulife Financial, director Sebastian Pariath sold 2,767 shares of the company in a trade on Wednesday, August 18. The stock was sold for an average price of C $ 26.27, for a total value of C $ 72,683.56. Additionally, senior executive Steve Finch sold 12,896 shares of the company in a trade on Monday, August 16. The shares were sold for an average price of C $ 25.00, for a total value of C $ 322,455.45. After the sale closes, the insider now owns 9,120 shares of the company, valued at C $ 228,039.22. In the past 90 days, insiders have sold 36,910 shares of the company valued at $ 926,405.
IS: MFC opened for C $ 24.43 on Friday. The company has a current ratio of 6.02, a quick ratio of 2.88 and a debt ratio of 39.24. Manulife Financial has a one-year minimum at C $ 17.58 and a one-year maximum at C $ 27.68. The company’s fifty-day simple moving average is C $ 24.56 and its 200-day simple moving average is C $ 25.35. The company has a market capitalization of 47.45 billion Canadian dollars and a PE ratio of 6.71.
Manulife Financial (TSE: MFC) (NYSE: MFC) last released its quarterly results on Wednesday, August 4. The financial services provider reported EPS of C $ 0.83 for the quarter, beating analyst consensus estimates of C $ 0.78 by C $ 0.05. The company reported sales of C $ 25.82 billion for the quarter. As a group, analysts expect Manulife Financial to post 3.5092529 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 20. Shareholders of record on Tuesday August 17 received a dividend of $ 0.28. This represents an annualized dividend of $ 1.12 and a dividend yield of 4.58%. The ex-dividend date of this dividend was Monday August 16. Manulife Financial’s payout ratio is 30.77%.
About Manulife Financial
Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States and abroad. The company operates through wealth and asset management companies; Insurance and annuity products; And the Business and Other segments. The Wealth and Asset Management Activities segment provides mutual funds and exchange traded funds, group retirement and savings products, as well as institutional asset management services through agents and brokers affiliated with the company, brokerage firms and financial advisers, pension consultants and banks.
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