Manulife Financial Corp. (MFC) Rating Reiterated by CSFB
Manulife Financial Corp. (TSE:MFC) (NYSE:MFC)‘s stock had its “outperform” rating restated by analysts at CSFB in a report issued on Tuesday. They currently have a C$21.00 price target on the stock. CSFB’s target price indicates a potential downside of 8.18% from the stock’s current price.
Several other research firms have also weighed in on MFC. Dundee Securities reissued a “buy” rating and set a C$22.00 price objective on shares of Manulife Financial Corp. in a research note on Wednesday, September 21st. Scotiabank reduced their price objective on Manulife Financial Corp. from C$20.00 to C$19.00 and set an “outperform” rating for the company in a research note on Friday, August 5th. Barclays PLC raised their price objective on Manulife Financial Corp. from C$19.00 to C$20.00 in a research note on Thursday, October 13th. TD Securities reissued a “hold” rating and set a C$19.00 price objective on shares of Manulife Financial Corp. in a research note on Friday, August 5th. Finally, Royal Bank Of Canada raised their price objective on Manulife Financial Corp. from C$21.00 to C$26.00 and gave the stock an “outperform” rating in a research note on Friday, November 11th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Manulife Financial Corp. has a consensus rating of “Buy” and a consensus target price of C$22.85.
Shares of Manulife Financial Corp. (TSE:MFC) opened at 22.87 on Tuesday. The firm has a market capitalization of $46.99 billion and a price-to-earnings ratio of 15.08. The firm’s 50-day moving average price is $19.69 and its 200 day moving average price is $18.43. Manulife Financial Corp. has a 52 week low of $15.32 and a 52 week high of $23.19.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Tuesday, November 22nd will be given a $0.185 dividend. The ex-dividend date of this dividend is Friday, November 18th. This represents a $0.74 annualized dividend and a dividend yield of 3.24%.
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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