Manulife Financial Co. (NYSE:MFC) (TSE:MFC) announced a quarterly dividend on Wednesday, November 6th, Zacks reports. Stockholders of record on Tuesday, November 19th will be paid a dividend of 0.19 per share by the financial services provider on Thursday, December 19th. This represents a $0.76 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Monday, November 18th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.19.
Shares of MFC traded up $0.06 during midday trading on Friday, hitting $19.87. The stock had a trading volume of 1,387,166 shares, compared to its average volume of 1,685,419. Manulife Financial has a 1 year low of $13.33 and a 1 year high of $20.08. The firm has a market cap of $38.59 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The stock’s 50 day moving average is $18.58 and its 200 day moving average is $17.90.
Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.21. Manulife Financial had a net margin of 6.45% and a return on equity of 12.86%. The business had revenue of $17.14 billion for the quarter. During the same period in the prior year, the company posted $0.75 EPS. As a group, sell-side analysts predict that Manulife Financial will post 2.23 earnings per share for the current year.
MFC has been the topic of several recent analyst reports. National Bank Financial increased their target price on shares of Manulife Financial from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Desjardins increased their target price on shares of Manulife Financial from $29.00 to $31.00 in a research note on Friday, November 8th. BMO Capital Markets increased their target price on shares of Manulife Financial from $32.00 to $33.00 in a research note on Friday, November 8th. ValuEngine raised shares of Manulife Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity increased their target price on shares of Manulife Financial from $33.00 to $34.00 in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. Manulife Financial has an average rating of “Buy” and a consensus price target of $29.14.
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; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.
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