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 Manulife Financial 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 value of C$503,646.63.

Manulife Financial Price Performance

TSE:MFC traded up C$0.05 during midday trading on Friday, reaching C$44.47. 588,000 shares of the company traded hands, compared to its average volume of 5,549,715. Manulife Financial Co. has a twelve month low of C$31.24 and a twelve month high of C$46.42. The firm has a market capitalization of C$78.00 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The company has a fifty day moving average price of C$43.53 and a 200 day moving average price of C$41.87.

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 5th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.96%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.40. Manulife Financial’s payout ratio is currently 49.79%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MFC shares. Scotiabank lifted their price objective on Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. Barclays lifted their price objective on Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th. TD Securities lifted their price objective 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 boosted their price target on Manulife Financial from C$47.00 to C$48.00 in a report on Thursday, November 21st. Finally, CIBC boosted their price target on Manulife Financial from C$47.00 to C$48.00 in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.