Manulife Financial Corp. (MFC) Declares $0.21 Quarterly Dividend
Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) announced a quarterly dividend on Wednesday, August 9th, RTT News reports. Stockholders of record on Tuesday, August 22nd will be paid a dividend of 0.205 per share by the financial services provider on Tuesday, September 19th. This represents a $0.82 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Friday, August 18th.
Manulife Financial Corp. (MFC) traded down 2.37% on Friday, hitting $24.50. 4,078,134 shares of the company traded hands. The firm’s 50 day moving average price is $25.19 and its 200 day moving average price is $24.24. The firm has a market capitalization of $48.46 billion and a PE ratio of 13.38. Manulife Financial Corp. has a 1-year low of $17.18 and a 1-year high of $26.11.
In other news, insider Rocco Gori bought 421,492 shares of Manulife Financial Corp. stock in a transaction dated Friday, May 26th. The stock was acquired at an average cost of C$17.59 per share, with a total value of C$7,414,044.28. Also, insider Stephani Kingsmill sold 10,400 shares of the business’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of C$24.61, for a total value of C$255,944.00.
Several research firms have recently weighed in on MFC. National Bank Financial raised their target price on Manulife Financial Corp. from C$26.00 to C$27.00 and gave the company a “sector perform” rating in a research report on Thursday, August 10th. Scotiabank reiterated an “outperform” rating and set a C$28.00 price objective on shares of Manulife Financial Corp. in a research report on Thursday, May 4th. TD Securities lifted their price objective on Manulife Financial Corp. from C$25.00 to C$26.00 and gave the stock a “hold” rating in a research report on Thursday, May 4th. Royal Bank Of Canada lifted their price objective on Manulife Financial Corp. from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Friday, August 11th. Finally, Barclays PLC lifted their price objective on Manulife Financial Corp. from C$28.00 to C$29.00 in a research report on Wednesday, July 12th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Manulife Financial Corp. currently has a consensus rating of “Buy” and an average price target of C$26.83.
Manulife Financial Corp. Company Profile
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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