Manulife Financial Co. (NYSE:MFC – Get Free Report) (TSE:MFC) announced a quarterly dividend on Wednesday, August 7th, Zacks reports. Investors of record on Wednesday, August 21st will be paid a dividend of 0.29 per share by the financial services provider on Thursday, September 19th. This represents a $1.16 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend is Wednesday, August 21st.
Manulife Financial has increased its dividend payment by an average of 9.2% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Manulife Financial has a dividend payout ratio of 40.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Manulife Financial to earn $2.94 per share next year, which means the company should continue to be able to cover its $1.17 annual dividend with an expected future payout ratio of 39.8%.
Manulife Financial Stock Up 0.9 %
Shares of Manulife Financial stock traded up $0.22 during trading on Friday, hitting $24.97. 264,996 shares of the stock traded hands, compared to its average volume of 2,814,397. The stock has a market cap of $44.69 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 0.94 and a beta of 1.09. The firm’s fifty day moving average is $26.01 and its 200-day moving average is $24.70. Manulife Financial has a 52 week low of $17.07 and a 52 week high of $27.51.
Analysts Set New Price Targets
Several research analysts have recently weighed in on MFC shares. TD Securities lifted their price target on shares of Manulife Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. National Bank Financial raised Manulife Financial from a “sector perform” rating to an “outperform” rating in a research note on Thursday, May 9th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Manulife Financial has a consensus rating of “Moderate Buy” and an average target price of $35.00.
View Our Latest Analysis on MFC
Manulife Financial Company Profile
Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, 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 offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.
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