Manulife Financial Co. (TSE:MFC) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Manulife Financial Co. has received a consensus rating of "Moderate Buy" from analysts, with five firms recommending a buy and two a hold.
• The average 12-month price target for Manulife Financial is C$47.75, with recent adjustments from multiple brokerages indicating varying outlooks on the stock's value.
• Manulife declared a quarterly dividend of $0.44 per share, representing an annual dividend yield of 4.2% with a payout ratio of 49.79%.

Shares of Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC have received a consensus rating of "Moderate Buy" from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is C$47.75.

Several brokerages have issued reports on MFC. Royal Bank Of Canada lowered their price target on Manulife Financial from C$51.00 to C$49.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Barclays increased their price objective on Manulife Financial from C$46.00 to C$47.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Scotiabank decreased their price objective on Manulife Financial from C$53.00 to C$50.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. National Bankshares decreased their price objective on Manulife Financial from C$48.00 to C$47.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Finally, CIBC decreased their price objective 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.

Manulife Financial Price Performance

Shares of Manulife Financial stock opened at C$41.82 on Thursday. Manulife Financial has a 1 year low of C$36.57 and a 1 year high of C$46.42. The business has a 50-day moving average of C$42.31 and a two-hundred day moving average of C$42.58. The company has a market capitalization of C$73.35 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06.

Manulife Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 19th will be issued a dividend of $0.44 per share. The ex-dividend date is Wednesday, August 20th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.2%. Manulife Financial's dividend payout ratio (DPR) is presently 49.79%.

Insider Activity

In other news, Director Anthony Alex Silva acquired 2,200 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was acquired at an average cost of C$43.77 per share, for a total transaction of C$96,301.92. 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.

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