Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Claude. James Prieur acquired 45,000 shares of the business’s stock in a transaction on Thursday, December 6th. The shares were bought at an average cost of C$15.58 per share, for a total transaction of C$701,100.00.
Shares of Manulife Financial stock traded down C$0.30 on Friday, hitting C$20.45. The company’s stock had a trading volume of 2,822,904 shares, compared to its average volume of 3,754,667. Manulife Financial Co. has a 52-week low of C$19.63 and a 52-week high of C$27.77.
Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings data on Wednesday, November 7th. The financial services provider reported C$0.75 EPS for the quarter, topping the consensus estimate of C$0.66 by C$0.09. The business had revenue of C$8.04 billion during the quarter. Analysts forecast that Manulife Financial Co. will post 2.90734849101719 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Tuesday, November 20th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 19th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a dividend yield of 4.89%. Manulife Financial’s payout ratio is currently 70.79%.
MFC has been the topic of a number of research analyst reports. National Bank Financial cut their price objective on shares of Manulife Financial from C$31.00 to C$30.00 and set an “outperform” rating on the stock in a report on Thursday, August 9th. Desjardins cut their price objective on shares of Manulife Financial from C$29.00 to C$27.00 in a report on Tuesday, October 16th. CIBC cut their price objective on shares of Manulife Financial from C$30.00 to C$25.00 in a report on Monday, October 29th. Evercore set a C$26.00 price objective on shares of Manulife Financial and gave the stock an “in-line” rating in a report on Thursday, November 8th. Finally, TD Securities raised their price objective on shares of Manulife Financial from C$29.00 to C$30.00 in a report on Thursday, November 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Manulife Financial has an average rating of “Buy” and a consensus target price of C$28.35.
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About Manulife Financial
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance through insurance agents, brokers, banks, financial planners, and direct marketing.
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