Manulife Financial Co. (TSE:MFC) Receives C$47.88 Consensus PT from Brokerages

Key Points

• Manulife Financial Co. (TSE:MFC) has been given an average rating of "Moderate Buy" from eight research firms, with a target price of C$47.88.
• The company's shares recently declined by 2.0%, opening at C$42.02, and have a 12-month trading range between C$32.87 and C$46.42.
• Manulife declared a quarterly dividend of $0.44 per share, resulting in an annualized yield of 4.2% and reflecting a payout ratio of 49.79%.

Shares of Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC have earned a consensus recommendation of "Moderate Buy" from the eight analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$47.88.

A number of analysts recently weighed in on MFC shares. Barclays reduced their target price on shares of Manulife Financial from C$49.00 to C$45.00 in a report on Friday, April 11th. National Bankshares decreased their target price on Manulife Financial from C$49.00 to C$48.00 in a report on Friday, July 11th. CIBC reduced their target price on Manulife Financial from C$48.00 to C$46.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Royal Bank Of Canada set a C$51.00 price objective on Manulife Financial and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Finally, Scotiabank cut their price target on shares of Manulife Financial from C$53.00 to C$50.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st.

Manulife Financial Stock Up 1.2%

Manulife Financial stock traded up C$0.49 during midday trading on Friday, hitting C$42.91. The company's stock had a trading volume of 1,107,252 shares, compared to its average volume of 7,521,647. 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 capitalization of C$75.26 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The stock's 50-day moving average price is C$42.81 and its 200-day moving average price is C$42.75.

Manulife Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Thursday, June 19th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Wednesday, May 21st. Manulife Financial's payout ratio is currently 49.79%.

Insider Buying and Selling at Manulife Financial

In other Manulife Financial news, Director Ka Ming (Kenneth) Dai sold 1,073 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of C$42.96, for a total value of C$46,091.79. Also, Director Brooks Tingle sold 5,545 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of C$44.22, for a total value of C$245,196.57. Insiders sold 62,070 shares of company stock valued at $2,744,604 in the last quarter. Corporate insiders own 0.03% of the company's stock.

Manulife Financial Company Profile

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.