Manulife Financial (TSE:MFC – Free Report) (NYSE:MFC) had its price target increased by CIBC from C$42.00 to C$46.00 in a research report released on Friday morning,BayStreet.CA reports.
A number of other analysts have also recently issued reports on MFC. Jefferies Financial Group boosted their target price on Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. TD Securities raised their target price on shares of Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. National Bankshares upped their price target on shares of Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday, November 7th. Royal Bank of Canada raised their price objective on Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. Finally, Scotiabank upped their target price on Manulife Financial from C$48.00 to C$49.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$42.27.
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Manulife Financial Price Performance
Manulife Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.60 annualized dividend and a yield of 3.55%. Manulife Financial’s dividend payout ratio is presently 68.09%.
Insider Activity
In related news, Director Tin Ku sold 2,166 shares of Manulife Financial stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total value of C$81,116.70. Following the completion of the sale, the director now owns 253 shares in the company, valued at approximately C$9,474.85. The trade was a 0.00 % decrease in their ownership of the stock. In other Manulife Financial news, Senior Officer Steve Finch sold 11,599 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total transaction of C$414,439.23. Also, Director Tin Ku sold 2,166 shares of Manulife Financial stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total value of C$81,116.70. Following the completion of the transaction, the director now owns 253 shares of the company’s stock, valued at approximately C$9,474.85. The trade was a 0.00 % decrease in their position. In the last three months, insiders sold 62,113 shares of company stock worth $2,223,030. 0.03% of the stock is currently owned by insiders.
About Manulife Financial
Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, 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 offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.
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