Manulife Financial (TSE:MFC) Upgraded at UBS Group

UBS Group upgraded shares of Manulife Financial (TSE:MFCFree Report) (NYSE:MFC) to a strong-buy rating in a report released on Thursday,Zacks.com reports.

MFC has been the subject of several other research reports. TD Securities upped their price objective on Manulife Financial from C$50.00 to C$54.00 in a research note on Wednesday, October 8th. Desjardins upped their price objective on Manulife Financial from C$48.00 to C$52.00 and gave the company a “buy” rating in a research note on Wednesday. Royal Bank Of Canada lowered their price objective on Manulife Financial from C$51.00 to C$49.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. National Bankshares decreased their target price on shares of Manulife Financial from C$48.00 to C$47.00 and set an “outperform” rating for the company in a research report on Thursday, August 7th. Finally, Barclays increased their target price on shares of Manulife Financial from C$47.00 to C$48.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$48.89.

Read Our Latest Analysis on MFC

Manulife Financial Price Performance

Manulife Financial stock opened at C$44.34 on Thursday. The business has a 50 day moving average of C$43.14 and a 200-day moving average of C$42.64. Manulife Financial has a 1 year low of C$36.93 and a 1 year high of C$46.42. The company has a market capitalization of C$74.92 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.01 and a beta of 0.93.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 19th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $1.76 annualized dividend and a dividend yield of 4.0%. Manulife Financial’s dividend payout ratio (DPR) is 54.19%.

Insider Activity at Manulife Financial

In other news, insider Paul Lorentz sold 178,425 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of C$41.90, for a total transaction of C$7,476,007.50. Following the completion of the sale, the insider owned 79,930 shares of the company’s stock, valued at C$3,349,067. This trade represents a 69.06% decrease in their position. Over the last three months, insiders have sold 179,582 shares of company stock worth $7,516,321. Company insiders own 0.03% of the company’s stock.

About Manulife Financial

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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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Analyst Recommendations for Manulife Financial (TSE:MFC)

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