Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) – Research analysts at Cormark decreased their Q1 2018 earnings per share (EPS) estimates for shares of Manulife Financial in a report issued on Friday. Cormark analyst M. Grauman now expects that the financial services provider will post earnings of $0.66 per share for the quarter, down from their previous estimate of $0.67. Cormark also issued estimates for Manulife Financial’s Q2 2018 earnings at $0.66 EPS, Q4 2018 earnings at $0.70 EPS, Q1 2019 earnings at $0.72 EPS, Q2 2019 earnings at $0.72 EPS, Q3 2019 earnings at $0.73 EPS and Q4 2019 earnings at $0.74 EPS.
A number of other research analysts also recently weighed in on MFC. CSFB raised their price target on Manulife Financial from C$28.00 to C$31.00 in a research note on Wednesday, November 1st. National Bank Financial raised their price target on Manulife Financial from C$27.00 to C$29.00 and gave the company a “sector perform” rating in a research note on Thursday, November 9th. BMO Capital Markets restated an “outperform” rating and issued a C$31.00 price target on shares of Manulife Financial in a research note on Friday, November 10th. Royal Bank of Canada raised their price target on Manulife Financial from C$28.00 to C$30.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Finally, Scotiabank raised their price target on Manulife Financial from C$31.00 to C$32.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of C$30.25.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Shareholders of record on Wednesday, February 21st will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.54%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 20th. Manulife Financial’s dividend payout ratio (DPR) is currently 83.67%.
In other news, insider Warren A. Thomson sold 11,300 shares of Manulife Financial stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of C$26.71, for a total transaction of C$301,823.00. Also, Director Rocco Gori bought 60,694 shares of Manulife Financial stock in a transaction dated Friday, December 15th. The shares were acquired at an average price of C$26.70 per share, with a total value of C$1,620,529.80.
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Manulife Financial Company Profile
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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