Anthony Alex Silva Buys 2,407 Shares of Manulife Financial Co. (TSE:MFC) Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Anthony Alex Silva purchased 2,407 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was bought at an average cost of C$44.37 per share, for a total transaction of C$106,788.96.

Manulife Financial Stock Performance

Shares of MFC opened at C$44.77 on Friday. Manulife Financial Co. has a 52-week low of C$32.87 and a 52-week high of C$46.42. The stock’s 50-day simple moving average is C$42.31 and its 200 day simple moving average is C$43.27. The stock has a market capitalization of C$78.53 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06.

Manulife Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 19th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Wednesday, May 21st. Manulife Financial’s payout ratio is 49.79%.

Wall Street Analyst Weigh In

MFC has been the subject of a number of recent research reports. Barclays decreased their target price on Manulife Financial from C$49.00 to C$45.00 in a research report on Friday, April 11th. Scotiabank decreased their price objective on Manulife Financial from C$53.00 to C$50.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Royal Bank of Canada set a C$51.00 price objective on shares of Manulife Financial and gave the company an “outperform” rating in a report on Tuesday, April 15th. National Bankshares cut their target price on shares of Manulife Financial from C$50.00 to C$49.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Finally, Jefferies Financial Group lowered their price target on shares of Manulife Financial from C$51.00 to C$46.00 in a research report on Monday, April 21st. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$48.00.

Manulife Financial Company Profile

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada’s Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.