Manulife Financial Co. (TSE:MFC) to Issue Quarterly Dividend of $0.44

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) declared a quarterly dividend on Wednesday, February 19th,RTT News reports. Stockholders of record on Wednesday, March 5th will be paid a dividend of 0.44 per share by the financial services provider on Wednesday, March 19th. This represents a $1.76 annualized dividend and a dividend yield of 4.16%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.40.

Manulife Financial Price Performance

TSE MFC opened at C$42.32 on Thursday. The company’s fifty day moving average price is C$43.51 and its two-hundred day moving average price is C$41.45. Manulife Financial has a 12 month low of C$31.24 and a 12 month high of C$46.42. The company has a market capitalization of C$74.23 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06.

Insiders Place Their Bets

In related news, Senior Officer James D. Gallagher sold 57,064 shares of Manulife Financial stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total value of C$2,556,638.39. Also, Director Kenneth Michael Ross sold 4,243 shares of Manulife Financial stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of C$45.80, for a total value of C$194,315.82. Insiders have sold 62,307 shares of company stock worth $2,796,173 over the last 90 days. Corporate insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on MFC shares. National Bankshares raised their target price on shares of Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday, November 7th. Cormark raised their price target on shares of Manulife Financial from C$47.00 to C$48.00 in a report on Thursday, November 21st. Scotiabank raised their price objective on shares of Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. Barclays lifted their price target on shares of Manulife Financial from C$40.00 to C$47.00 in a research report on Monday, January 6th. Finally, TD Securities lifted their price target on shares of Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$45.40.

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.