Manulife Financial Co. (MFC) Receives C$30.00 Consensus Price Target from Analysts

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has been given an average recommendation of “Buy” by the nine ratings firms that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$30.00.

A number of research analysts have issued reports on the stock. TD Securities cut their target price on shares of Manulife Financial from C$30.00 to C$28.00 and set a “hold” rating on the stock in a research report on Thursday, February 8th. Scotiabank cut their target price on shares of Manulife Financial from C$31.00 to C$30.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. CIBC upgraded shares of Manulife Financial from a “neutral” rating to an “outperform” rating and upped their target price for the company from C$28.00 to C$29.00 in a research report on Friday, May 4th. Finally, Desjardins cut their target price on shares of Manulife Financial from C$30.00 to C$28.00 in a research report on Thursday, April 12th.

Manulife Financial stock traded down C$0.16 during trading hours on Tuesday, reaching C$24.60. 1,839,556 shares of the company’s stock traded hands, compared to its average volume of 3,680,559. Manulife Financial has a fifty-two week low of C$23.04 and a fifty-two week high of C$27.77.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 19th. Stockholders of record on Tuesday, May 15th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, May 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.58%.

In other news, insider Stephani Kingsmill sold 6,200 shares of the company’s stock in a transaction dated Monday, May 14th. The stock was sold at an average price of C$24.77, for a total value of C$153,574.00. Also, Director Brian Collins sold 2,937 shares of the company’s stock in a transaction dated Monday, May 14th. The shares were sold at an average price of C$24.77, for a total value of C$72,749.49.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance through insurance agents, brokers, banks, financial planners, and direct marketing.

Analyst Recommendations for Manulife Financial (TSE:MFC)

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