Analysts’ Recent Ratings Updates for Manulife Financial (MFC)

Manulife Financial (TSE: MFC) has recently received a number of price target changes and ratings updates:

  • 5/13/2022 – Manulife Financial had its price target lowered by analysts at Royal Bank of Canada from C$29.00 to C$26.00. They now have a “sector perform” rating on the stock.
  • 5/13/2022 – Manulife Financial had its price target lowered by analysts at Barclays PLC from C$34.00 to C$33.00. They now have an “overweight” rating on the stock.
  • 5/13/2022 – Manulife Financial was downgraded by analysts at Canaccord Genuity Group Inc. from a “buy” rating to a “hold” rating. They now have a C$23.00 price target on the stock, down previously from C$29.50.
  • 5/13/2022 – Manulife Financial was downgraded by analysts at CIBC from a “buy” rating to a “hold” rating. They now have a C$23.00 price target on the stock, down previously from C$25.00.
  • 5/13/2022 – Manulife Financial was downgraded by analysts at Desjardins to a “hold” rating.
  • 5/13/2022 – Manulife Financial had its price target lowered by analysts at Scotiabank from C$28.00 to C$27.00.
  • 5/12/2022 – Manulife Financial had its price target lowered by analysts at National Bankshares, Inc. from C$28.00 to C$26.00. They now have a “sector perform” rating on the stock.
  • 5/12/2022 – Manulife Financial is now covered by analysts at BMO Capital Markets. They set a “hold” rating and a C$27.00 price target on the stock.
  • 5/12/2022 – Manulife Financial had its price target lowered by analysts at TD Securities from C$37.00 to C$34.00. They now have an “action list buy” rating on the stock.
  • 5/2/2022 – Manulife Financial had its price target lowered by analysts at Scotiabank from C$30.00 to C$28.00.
  • 4/12/2022 – Manulife Financial had its price target lowered by analysts at Barclays PLC from C$36.00 to C$34.00. They now have an “overweight” rating on the stock.

TSE:MFC opened at C$23.11 on Friday. Manulife Financial Co. has a 52 week low of C$21.75 and a 52 week high of C$28.09. The company has a fifty day simple moving average of C$25.30 and a two-hundred day simple moving average of C$25.21. The company has a quick ratio of 2.16, a current ratio of 5.29 and a debt-to-equity ratio of 36.37. The company has a market cap of C$44.47 billion and a price-to-earnings ratio of 4.96.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 20th. Shareholders of record on Wednesday, May 25th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date of this dividend is Tuesday, May 24th. Manulife Financial’s dividend payout ratio is currently 26.19%.

In other news, Senior Officer Steve Finch sold 13,926 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of C$22.51, for a total transaction of C$313,411.59. Following the completion of the transaction, the insider now directly owns 17,490 shares of the company’s stock, valued at approximately C$393,621.20. Also, Director Michael James Doughty sold 16,247 shares of the firm’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of C$22.51, for a total value of C$365,646.86. Following the sale, the director now directly owns 13,118 shares in the company, valued at approximately C$295,227.15.

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.

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