Dundee Securities reaffirmed their buy rating on shares of Manulife Financial Corp. (TSE:MFC) in a research report released on Wednesday morning. Dundee Securities currently has a C$22.00 price target on the stock.
A number of other brokerages have also commented on MFC. RBC Capital Markets cut their price target on Manulife Financial Corp. from C$22.00 to C$21.00 and set an outperform rating on the stock in a report on Saturday, August 6th. CSFB lowered their target price on Manulife Financial Corp. from C$22.00 to C$21.00 in a research report on Saturday, August 6th. Desjardins set a C$21.00 target price on Manulife Financial Corp. and gave the company a buy rating in a research report on Saturday, August 6th. CIBC downgraded Manulife Financial Corp. from an outperform rating to a sector perform rating and lowered their target price for the company from C$21.00 to C$19.00 in a research report on Saturday, August 6th. Finally, BMO Capital Markets lowered their target price on Manulife Financial Corp. from C$24.00 to C$21.00 in a research report on Saturday, August 6th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of C$20.77.
Shares of Manulife Financial Corp. (TSE:MFC) opened at 18.49 on Wednesday. The company has a market cap of $36.48 billion and a P/E ratio of 14.67. The firm has a 50 day moving average price of $17.73 and a 200-day moving average price of $18.10. Manulife Financial Corp. has a 12 month low of $15.32 and a 12 month high of $22.65.
The company also recently announced a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Tuesday, August 16th were given a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 4.00%. The ex-dividend date was Friday, August 12th.
About Manulife Financial Corp.
Manulife Financial Corporation (MFC) is a life insurance company. The Company is a holding company of The Manufacturers Life Insurance Company (MLI), a Canadian life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), a Bermuda reinsurance company. The Company’s segments, including Asia Division, Canadian Division, U.S.
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