Manulife Financial Co. (MFC) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have been given a consensus recommendation of “Buy” by the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is C$28.83.

Several equities research analysts have weighed in on MFC shares. Royal Bank Of Canada increased their target price on 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. BMO Capital Markets reaffirmed an “outperform” rating and issued a C$30.00 target price on shares of Manulife Financial in a research report on Wednesday, October 11th. Desjardins increased their target price on Manulife Financial from C$28.00 to C$30.00 in a research report on Monday, November 13th. CSFB increased their target price on Manulife Financial from C$28.00 to C$31.00 in a research report on Wednesday, November 1st. Finally, Scotiabank increased their target price on Manulife Financial from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th.

Shares of Manulife Financial (MFC) traded up C$0.04 on Thursday, reaching C$27.09. The company had a trading volume of 2,515,379 shares, compared to its average volume of 3,992,262. Manulife Financial has a 52-week low of C$22.39 and a 52-week high of C$27.51.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Tuesday, November 21st will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Monday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is 43.96%.

In other news, insider Marianne Harrison sold 3,703 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of C$24.26, for a total transaction of C$89,834.78. Also, insider Warren A. Thomson sold 11,300 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of C$26.71, for a total value of C$301,823.00. Insiders have sold 19,503 shares of company stock worth $486,563 over the last three months.

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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.

Analyst Recommendations for Manulife Financial (TSE:MFC)

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