Manulife Financial Co. (TSE:MFC) Director Sells C$144,572.68 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Kenneth Michael Ross sold 3,219 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of C$44.91, for a total value of C$144,572.68.

Manulife Financial Stock Up 0.1 %

TSE MFC opened at C$42.08 on Monday. The company has a market capitalization of C$73.81 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 1.01 and a beta of 1.06. Manulife Financial Co. has a twelve month low of C$31.24 and a twelve month high of C$46.42. The stock has a fifty day simple moving average of C$43.43 and a 200 day simple moving average of C$42.19.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 19th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.18%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, March 5th. Manulife Financial’s dividend payout ratio is presently 49.79%.

Wall Street Analysts Forecast Growth

MFC has been the subject of several research analyst reports. Barclays boosted their price objective on shares of Manulife Financial from C$40.00 to C$47.00 in a research report on Monday, January 6th. TD Securities boosted their price objective on shares of Manulife Financial from C$48.00 to C$49.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Cormark boosted their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. Jefferies Financial Group boosted their price objective on shares of Manulife Financial from C$50.00 to C$51.00 in a research report on Thursday, January 30th. Finally, CIBC boosted their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Friday, February 21st. Two research 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$45.60.

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.