Manulife Financial (MFC) Hits New 12-Month High at $27.68
Manulife Financial Corp. (TSE:MFC) (NYSE:MFC)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$27.68 and last traded at C$27.67, with a volume of 1030000 shares changing hands. The stock had previously closed at C$27.13.
MFC has been the topic of a number of recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a C$30.00 target price on shares of Manulife Financial in a research report on Wednesday, October 11th. CSFB upped their target price on Manulife Financial from C$28.00 to C$31.00 in a research report on Wednesday, November 1st. National Bank Financial upped their target price on Manulife Financial from C$27.00 to C$29.00 and gave the company a “sector perform” rating in a research report on Thursday, November 9th. Royal Bank of Canada upped their target price on Manulife Financial from C$28.00 to C$30.00 and gave the company an “outperform” rating in a research report on Friday, November 10th. Finally, Scotiabank upped their target price on Manulife Financial from C$31.00 to C$32.00 and gave the company an “outperform” rating in a research report on Friday, November 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Manulife Financial has a consensus rating of “Buy” and an average target price of C$30.00.
The company has a market capitalization of $53,720.00, a PE ratio of 14.90 and a beta of 0.99.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 19th. Investors of record on Tuesday, November 21st were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Monday, November 20th. Manulife Financial’s dividend payout ratio is currently 43.96%.
In related news, insider Warren A. Thomson sold 11,300 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of C$26.71, for a total transaction of C$301,823.00. Also, Director P. Thomas Jenkins sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of C$21.09, for a total value of C$94,905.00.
About Manulife Financial
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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