Manulife Financial - MFC Stock Forecast, Price & News

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks. The Insurance and Annuity Products segment offers deposit and credit products; individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing. The Corporate and Other segment is involved in property and casualty insurance and reinsurance businesses; and run-off reinsurance operations, including variable annuities, and accident and health. It also manages timberland and agricultural portfolios; and engages in insurance agency, portfolio and mutual fund management, mutual fund dealer, life, annuity, long-term care, and financial reinsurance; and fund management businesses. Additionally, the company holds and manages provides investment management, counseling, advisory, and dealer services. Manulife Financial Corporation was incorporated in 1887 and is headquartered in Toronto, Canada.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MFC shares. Scotiabank upgraded shares of Manulife Financial from a "sector perform" rating to an "outperform" rating in a research report on Wednesday, July 27th. National Bankshares reduced their price target on shares of Manulife Financial from C$26.00 to C$25.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 19th. Cormark raised their target price on shares of Manulife Financial from C$24.00 to C$25.00 in a report on Friday, August 12th. Royal Bank of Canada dropped their price target on Manulife Financial from C$29.00 to C$26.00 and set a "sector perform" rating for the company in a research note on Friday, May 13th. Finally, CIBC lowered Manulife Financial from a "buy" rating to a "hold" rating and dropped their price target for the stock from C$25.00 to C$23.00 in a research note on Friday, May 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of C$27.73.

Manulife Financial Stock Performance

TSE:MFC opened at C$24.39 on Friday. The company has a market cap of C$46.50 billion and a P/E ratio of 6.30. The company has a debt-to-equity ratio of 43.39, a quick ratio of 2.58 and a current ratio of 7.04. The business's 50 day moving average price is C$22.79 and its 200-day moving average price is C$24.50. Manulife Financial has a fifty-two week low of C$21.28 and a fifty-two week high of C$28.09.

Manulife Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 19th. Stockholders of record on Tuesday, August 23rd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend is Monday, August 22nd. Manulife Financial's dividend payout ratio is currently 32.82%.

Insider Activity

In other Manulife Financial news, Director Michael James Doughty sold 16,247 shares of the company's stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of C$24.27, for a total value of C$394,314.69. Following the transaction, the director now owns 13,118 shares of the company's stock, valued at approximately C$318,373.86. In other Manulife Financial news, Director Michael James Doughty sold 16,247 shares of the company's stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of C$24.27, for a total value of C$394,314.69. Following the completion of the sale, the director now directly owns 13,118 shares in the company, valued at approximately C$318,373.86. Also, Director Claude. James Prieur acquired 13,900 shares of the firm's stock in a transaction that occurred on Thursday, May 26th. The shares were bought at an average price of C$22.96 per share, with a total value of C$319,188.48. Following the completion of the purchase, the director now directly owns 158,900 shares in the company, valued at C$3,648,852.48.