Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$24.43 and traded as high as C$25.68. Manulife Financial shares last traded at C$25.63, with a volume of 6,863,410 shares traded.
Several research analysts have recently weighed in on the company. CSFB lifted their price objective on Manulife Financial from C$26.00 to C$28.00 in a research report on Tuesday, November 16th. Evercore lifted their price objective on Manulife Financial from C$28.50 to C$29.50 in a research report on Tuesday, November 16th. Scotiabank boosted their target price on Manulife Financial from C$28.00 to C$30.00 in a research report on Tuesday, November 16th. Cormark decreased their target price on Manulife Financial from C$29.00 to C$26.00 and set a “na” rating for the company in a research report on Friday, November 5th. Finally, TD Securities boosted their target price on Manulife Financial from C$36.00 to C$37.00 and gave the company an “action list buy” rating in a research report on Tuesday, November 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Manulife Financial has a consensus rating of “Hold” and a consensus price target of C$29.89.
The firm has a market cap of C$49.79 billion and a price-to-earnings ratio of 7.54. The company has a debt-to-equity ratio of 37.33, a quick ratio of 2.88 and a current ratio of 6.02. The business has a 50 day simple moving average of C$24.27 and a 200-day simple moving average of C$24.43.
Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings results on Wednesday, November 3rd. The financial services provider reported C$0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.81 by C($0.05). The business had revenue of C$15.98 billion during the quarter. As a group, research analysts anticipate that Manulife Financial Co. will post 21.5100003 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 20th. Shareholders of record on Wednesday, December 1st were paid a dividend of $0.28 per share. The ex-dividend date was Tuesday, November 30th. This represents a $1.12 dividend on an annualized basis and a yield of 4.37%. Manulife Financial’s dividend payout ratio (DPR) is currently 32.94%.
In other news, Director Michael James Doughty sold 21,246 shares of the business’s stock in a transaction that occurred on Friday, November 12th. The stock was sold at an average price of C$24.96, for a total value of C$530,236.42. Following the transaction, the director now owns 5,439 shares in the company, valued at approximately C$135,741.12. Also, Senior Officer Steve Finch sold 12,896 shares of the business’s stock in a transaction that occurred on Friday, November 12th. The stock was sold at an average price of C$24.96, for a total value of C$321,845.47. Following the completion of the transaction, the insider now owns 9,120 shares in the company, valued at approximately C$227,607.84. Insiders have sold a total of 34,642 shares of company stock valued at $864,367 in the last quarter.
About Manulife Financial (TSE:MFC)
Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; And Corporate and Other segments. The Wealth and Asset Management Businesses segment provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.
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