Manulife Financial Co. (TSE:MFC) Declares $0.44 Quarterly Dividend

Key Points

• Manulife Financial Co. has declared a quarterly dividend of $0.44 per share, with the payment date set for September 19th for investors of record as of August 20th, representing a yield of 4.1%.
• The company's stock price saw a 1.4% increase, trading at C$43.00, with a market cap of C$75.42 billion.
• Recent analyst reports have shown mixed ratings, with a consensus of "Moderate Buy" and a price target averaging C$47.88, while several banks have lowered their price objectives for the stock.

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC declared a quarterly dividend on Wednesday, August 6th, RTT News reports. Investors of record on Wednesday, August 20th will be given a dividend of 0.44 per share by the financial services provider on Friday, September 19th. This represents a c) dividend on an annualized basis and a yield of 4.1%.

Manulife Financial Stock Up 1.4%

Shares of TSE:MFC traded up C$0.58 during midday trading on Wednesday, hitting C$43.00. The stock had a trading volume of 9,910,107 shares, compared to its average volume of 7,580,561. The business's 50-day simple moving average is C$42.81 and its 200-day simple moving average is C$42.75. Manulife Financial has a 12 month low of C$32.87 and a 12 month high of C$46.42. The company has a market cap of C$75.42 billion, a P/E ratio of 13.38, a PEG ratio of 1.01 and a beta of 1.06.

Wall Street Analyst Weigh In

MFC has been the subject of several recent research reports. CIBC lowered their price objective on Manulife Financial from C$48.00 to C$46.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. National Bankshares dropped their price target on shares of Manulife Financial from C$49.00 to C$48.00 in a research note on Friday, July 11th. Barclays reduced their price objective on shares of Manulife Financial from C$49.00 to C$45.00 in a research note on Friday, April 11th. Royal Bank Of Canada set a C$51.00 target price on Manulife Financial and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Finally, Jefferies Financial Group lowered their price objective on Manulife Financial from C$51.00 to C$46.00 in a research report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$47.88.

About Manulife Financial

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada's Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.