Insider Selling: Manulife Financial Co. (TSE:MFC) Director Sells 3,219 Shares of Stock

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

Manulife Financial Stock Performance

Manulife Financial stock opened at C$42.08 on Friday. Manulife Financial Co. has a fifty-two week low of C$31.24 and a fifty-two week high of C$46.42. The stock has a market cap of C$73.81 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The firm’s fifty day moving average price is C$43.43 and its 200-day moving average price is C$42.15.

Manulife Financial Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. TD Securities boosted their price objective on Manulife Financial from C$48.00 to C$49.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Barclays lifted their price objective on shares of Manulife Financial from C$40.00 to C$47.00 in a research note on Monday, January 6th. Scotiabank increased their target price on Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. Jefferies Financial Group lifted their price target on Manulife Financial from C$50.00 to C$51.00 in a research report on Thursday, January 30th. Finally, CIBC raised their target price on Manulife Financial from C$47.00 to C$48.00 in a research note on Friday, February 21st. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Manulife Financial presently has a consensus 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.