Manulife Financial (TSE:MFC – Free Report) (NYSE:MFC) had its price objective upped by Royal Bank of Canada from C$38.00 to C$39.00 in a research report released on Friday, BayStreet.CA reports.
MFC has been the topic of several other reports. Evercore increased their target price on Manulife Financial from C$36.00 to C$37.00 in a research note on Friday, May 10th. National Bank Financial raised Manulife Financial from a sector perform market weight rating to an outperform market weight rating in a research report on Wednesday, May 8th. CIBC boosted their target price on Manulife Financial from C$34.00 to C$36.00 in a research report on Friday, May 10th. National Bankshares raised their price target on shares of Manulife Financial from C$38.00 to C$43.00 and gave the company an outperform rating in a report on Wednesday, July 31st. Finally, Jefferies Financial Group reduced their price target on shares of Manulife Financial from C$43.00 to C$42.00 in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of C$39.20.
Check Out Our Latest Stock Report on MFC
Manulife Financial Trading Down 0.3 %
Manulife Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, August 21st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date is Wednesday, August 21st. Manulife Financial’s payout ratio is 70.18%.
Insider Buying and Selling at Manulife Financial
In other news, Director Philip James Witherington sold 97,640 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of C$35.17, for a total value of C$3,433,852.34. 0.02% of the stock is owned by corporate insiders.
Manulife Financial Company Profile
Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.
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