Manulife Financial Co. (TSE:MFC) Receives C$48.00 Consensus Price Target from Analysts

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC has been assigned an average rating of "Moderate Buy" from the eight analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$48.00.

Several equities analysts recently weighed in on the stock. Jefferies Financial Group reduced their price target on shares of Manulife Financial from C$51.00 to C$46.00 in a research report on Monday, April 21st. National Bankshares cut their target price on shares of Manulife Financial from C$50.00 to C$49.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. CIBC cut their target price on shares of Manulife Financial from C$48.00 to C$46.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Scotiabank cut their target price on shares of Manulife Financial from C$53.00 to C$50.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Finally, Royal Bank Of Canada set a C$51.00 target price on shares of Manulife Financial and gave the stock an "outperform" rating in a research report on Tuesday, April 15th.

Manulife Financial Stock Down 0.0%

MFC traded down C$0.01 during trading on Wednesday, hitting C$41.73. 4,080,522 shares of the company traded hands, compared to its average volume of 7,858,439. The firm has a market cap of C$73.19 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The stock's fifty day moving average is C$43.33 and its 200 day moving average is C$42.98. Manulife Financial has a one year low of C$32.87 and a one year high of C$46.42.

Manulife Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Thursday, June 19th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend was Wednesday, May 21st. Manulife Financial's payout ratio is 49.79%.

Insider Transactions at Manulife Financial

In other news, Director Brooks Tingle sold 5,545 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of C$44.22, for a total value of C$245,196.57. Also, Director Anthony Alex Silva purchased 2,200 shares of the stock in a transaction dated Friday, May 30th. The stock was purchased at an average cost of C$43.77 per share, for a total transaction of C$96,301.92. In the last 90 days, insiders sold 62,070 shares of company stock valued at $2,744,604. Company 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.