Manulife Financial Co. (TSE:MFC) Director Kenneth Michael Ross Sells 4,243 Shares

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Kenneth Michael Ross sold 4,243 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of C$45.80, for a total transaction of C$194,315.82.

Manulife Financial Price Performance

Manulife Financial stock opened at C$45.81 on Friday. The stock has a market cap of C$81.08 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 1.01 and a beta of 1.06. Manulife Financial Co. has a 12-month low of C$26.85 and a 12-month high of C$46.42. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60. The business’s 50-day simple moving average is C$42.80 and its 200 day simple moving average is C$38.51.

Manulife Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial’s dividend payout ratio is 68.09%.

Analyst Ratings Changes

Several brokerages have weighed in on MFC. TD Securities upped their price objective on shares of Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. CIBC increased their price target on Manulife Financial from C$42.00 to C$46.00 in a research report on Friday, November 8th. Barclays raised their price target on Manulife Financial from C$39.00 to C$40.00 in a report on Friday, November 22nd. National Bankshares boosted their price objective on Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday, November 7th. Finally, Cormark raised their target price on Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$43.45.

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.