Manulife Financial Co. (TSE:MFC) Director Sells C$167,882.21 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Brooks Tingle sold 3,866 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of C$43.43, for a total transaction of C$167,882.21.

Manulife Financial Trading Up 0.0 %

Shares of TSE MFC traded up C$0.01 during midday trading on Friday, hitting C$44.43. 1,034,821 shares of the company’s stock were exchanged, compared to its average volume of 5,561,663. The business’s fifty day moving average price is C$43.53 and its two-hundred day moving average price is C$41.87. The company has a market cap of C$77.93 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.01 and a beta of 1.06. Manulife Financial Co. has a 12-month low of C$31.24 and a 12-month high of C$46.42.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.44 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 3.96%. Manulife Financial’s payout ratio is 49.79%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. TD Securities raised their price target on Manulife Financial from C$48.00 to C$49.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Cormark increased their price objective on Manulife Financial from C$47.00 to C$48.00 in a report on Thursday, November 21st. Jefferies Financial Group lifted their target price on Manulife Financial from C$50.00 to C$51.00 in a report on Thursday, January 30th. CIBC upped their price target on Manulife Financial from C$47.00 to C$48.00 in a research report on Friday, February 21st. Finally, Barclays raised their price objective on shares of Manulife Financial from C$40.00 to C$47.00 in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$45.60.

About Manulife Financial

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.