Shares of Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) hit a new 52-week high during mid-day trading on Thursday after the company announced a dividend. The company traded as high as C$27.50 and last traded at C$26.98, with a volume of 3986932 shares trading hands. The stock had previously closed at C$26.38.

The newly announced dividend which will be paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 21st will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 2.99%. Manulife Financial Corp.’s payout ratio is 42.39%.

Several brokerages have commented on MFC. National Bank Financial raised their target price on shares of Manulife Financial Corp. from C$27.00 to C$29.00 and gave the stock a “sector perform” rating in a report on Thursday. BMO Capital Markets reiterated an “outperform” rating and issued a C$30.00 target price on shares of Manulife Financial Corp. in a report on Wednesday, October 11th. Royal Bank Of Canada raised their target price on shares of Manulife Financial Corp. from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a report on Friday, August 11th. Finally, CSFB raised their target price on shares of Manulife Financial Corp. from C$28.00 to C$31.00 in a report on Wednesday, November 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of C$27.92.

In other news, insider Marianne Harrison sold 3,703 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of C$24.26, for a total value of C$89,834.78.

ILLEGAL ACTIVITY WARNING: This piece of content was originally published by Watch List News and is owned by of Watch List News. If you are viewing this piece of content on another publication, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/manulife-financial-corp-mfc-hits-new-1-year-high-following-dividend-announcement/1691951.html.

About Manulife Financial Corp.

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

Receive News & Ratings for Manulife Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial Corp. and related companies with Analyst Ratings Network's FREE daily email newsletter.