Scotiabank Raises Manulife Financial Corp. (MFC) Price Target to C$22.00
A number of other equities analysts have also issued reports on MFC. Barclays PLC lowered their price target on Manulife Financial Corp. from C$21.00 to C$20.00 in a report on Tuesday, July 12th. TD Securities reissued a hold rating and set a C$19.00 price target on shares of Manulife Financial Corp. in a report on Friday, August 5th. BMO Capital Markets lowered their price target on Manulife Financial Corp. from C$24.00 to C$21.00 in a report on Saturday, August 6th. CIBC lowered Manulife Financial Corp. from an outperform rating to a sector perform rating and lowered their price target for the stock from C$21.00 to C$19.00 in a report on Saturday, August 6th. Finally, CSFB lowered their price target on Manulife Financial Corp. from C$22.00 to C$21.00 in a report on Saturday, August 6th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of C$21.08.
Shares of Manulife Financial Corp. (TSE:MFC) opened at 21.94 on Tuesday. The stock has a market capitalization of $43.29 billion and a price-to-earnings ratio of 17.41. Manulife Financial Corp. has a 1-year low of $15.32 and a 1-year high of $22.65. The firm’s 50-day moving average price is $19.18 and its 200 day moving average price is $18.31.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Tuesday, November 22nd will be paid a $0.185 dividend. The ex-dividend date is Friday, November 18th. This represents a $0.74 annualized dividend and a yield of 3.37%.
About Manulife Financial Corp.
Manulife Financial Corporation (MFC) is a life insurance company. The Company is a holding company of The Manufacturers Life Insurance Company (MLI), a Canadian life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), a Bermuda reinsurance company. The Company’s segments, including Asia Division, Canadian Division, U.S.
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