Manulife Financial’s (MFC) In-Line Rating Reiterated at Evercore ISI

Evercore ISI reaffirmed their in-line rating on shares of Manulife Financial (TSE:MFC) (NYSE:MFC) in a research report report published on Thursday. Evercore ISI currently has a C$26.00 price target on the financial services provider’s stock.

Other research analysts have also issued research reports about the stock. Canaccord Genuity set a C$29.00 target price on shares of Manulife Financial and gave the stock a buy rating in a research note on Tuesday, July 24th. National Bank Financial lowered their target price on shares of Manulife Financial from C$31.00 to C$30.00 and set an outperform rating for the company in a research note on Thursday, August 9th. Evercore set a C$26.00 target price on shares of Manulife Financial and gave the stock an in-line rating in a research note on Thursday. TD Securities increased their target price on shares of Manulife Financial from C$29.00 to C$30.00 in a research note on Thursday. Finally, CIBC increased their target price on shares of Manulife Financial from C$25.00 to C$26.50 in a research note on Sunday, November 4th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of C$28.35.

Shares of MFC stock opened at C$22.33 on Thursday. Manulife Financial has a 1-year low of C$19.63 and a 1-year high of C$27.77.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its earnings results on Wednesday, August 8th. The financial services provider reported C$0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.65 by C$0.05. The company had revenue of C$13.67 billion for the quarter. As a group, sell-side analysts expect that Manulife Financial will post 2.88000008254367 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Tuesday, November 20th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Monday, November 19th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.22. Manulife Financial’s dividend payout ratio is currently 87.20%.

In other news, insider Lynda Sullivan sold 5,754 shares of the stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of C$24.14, for a total transaction of C$138,901.56. Also, Director Michael James Doughty sold 18,129 shares of the stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of C$24.14, for a total transaction of C$437,634.06. Insiders have sold 45,883 shares of company stock worth $1,111,136 in the last three months.

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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Analyst Recommendations for Manulife Financial (TSE:MFC)

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