Royal Bank Of Canada Increases Manulife Financial Corp. (MFC) Price Target to C$26.00
Manulife Financial Corp. (TSE:MFC) had its target price hoisted by research analysts at Royal Bank Of Canada from C$21.00 to C$26.00 in a report released on Friday. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 12.26% from the company’s previous close.
Other analysts also recently issued reports about the company. BMO Capital Markets decreased their price objective on Manulife Financial Corp. from C$24.00 to C$21.00 in a report on Saturday, August 6th. CSFB decreased their price target on Manulife Financial Corp. from C$22.00 to C$21.00 in a report on Saturday, August 6th. Barclays PLC increased their price target on Manulife Financial Corp. from C$19.00 to C$20.00 in a report on Thursday, October 13th. Desjardins set a C$21.00 price target on Manulife Financial Corp. and gave the stock a “buy” rating in a report on Saturday, August 6th. Finally, Dundee Securities reiterated a “buy” rating and set a C$22.00 price target on shares of Manulife Financial Corp. in a report on Wednesday, September 21st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Manulife Financial Corp. presently has an average rating of “Buy” and a consensus target price of C$22.85.
Shares of Manulife Financial Corp. (TSE:MFC) opened at 23.16 on Friday. The firm has a market cap of $47.58 billion and a P/E ratio of 15.27. Manulife Financial Corp. has a 52-week low of $15.32 and a 52-week high of $23.19. The company has a 50 day moving average price of $19.42 and a 200-day moving average price of $18.36.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Tuesday, November 22nd will be given a dividend of $0.185 per share. The ex-dividend date is Friday, November 18th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 3.20%.
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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