Insider Selling: Manulife Financial Co. (TSE:MFC) Senior Officer Sells 11,598 Shares of Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Senior Officer Steve Finch sold 11,598 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of C$43.43, for a total value of C$503,646.63.

Manulife Financial Price Performance

Shares of Manulife Financial stock opened at C$45.06 on Friday. Manulife Financial Co. has a one year low of C$31.24 and a one year high of C$46.42. The firm has a market capitalization of C$79.04 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 1.01 and a beta of 1.06. The business has a 50-day simple moving average of C$43.56 and a 200 day simple moving average of C$41.89.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 19th will be paid a dividend of $0.44 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.76 dividend on an annualized basis and a yield of 3.91%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.40. Manulife Financial’s payout ratio is 49.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MFC shares. Scotiabank increased their target price on Manulife Financial from C$48.00 to C$49.00 in a research note on Friday, November 8th. Cormark raised their price objective on Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st. CIBC raised their target price on Manulife Financial from C$47.00 to C$48.00 in a report on Friday, February 21st. Jefferies Financial Group raised their target price on Manulife Financial from C$50.00 to C$51.00 in a report on Thursday, January 30th. Finally, TD Securities raised their target price on Manulife Financial from C$48.00 to C$49.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.