Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Claude. James Prieur purchased 45,000 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The shares were purchased at an average price of C$15.58 per share, for a total transaction of C$701,100.00.
Manulife Financial stock traded down C$0.91 during mid-day trading on Thursday, hitting C$20.75. The company had a trading volume of 9,599,508 shares, compared to its average volume of 3,747,403. Manulife Financial Co. has a 12 month low of C$19.63 and a 12 month high of C$27.77.
Manulife Financial (TSE:MFC) (NYSE:MFC) last released its earnings results on Wednesday, November 7th. The financial services provider reported C$0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.66 by C$0.09. The company had revenue of C$8.04 billion during the quarter. On average, research analysts predict that Manulife Financial Co. will post 2.90734849101719 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Tuesday, November 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.82%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, November 19th. Manulife Financial’s payout ratio is 70.79%.
Several equities research analysts recently weighed in on the company. National Bank Financial dropped their price target on Manulife Financial from C$31.00 to C$30.00 and set an “outperform” rating on the stock in a research report on Thursday, August 9th. Evercore set a C$26.00 price target on Manulife Financial and gave the company an “in-line” rating in a research report on Thursday, November 8th. TD Securities lifted their price target on Manulife Financial from C$29.00 to C$30.00 in a research report on Thursday, November 8th. Evercore ISI restated an “in-line” rating and set a C$26.00 price target on shares of Manulife Financial in a research report on Thursday, November 8th. Finally, BMO Capital Markets dropped their price target on Manulife Financial from C$32.00 to C$31.00 in a research report on Friday, November 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of C$28.35.
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About Manulife Financial
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.
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