Manulife Financial Co. (TSE:MFC) Senior Officer Sells C$200,977.17 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Senior Officer Naveed Irshad sold 4,545 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of C$44.22, for a total value of C$200,977.17.

Manulife Financial Stock Up 0.5%

Shares of MFC stock opened at C$44.77 on Monday. Manulife Financial Co. has a 12 month low of C$32.87 and a 12 month high of C$46.42. The business’s 50 day moving average is C$42.31 and its two-hundred day moving average is C$43.28. The company has a market cap of C$78.53 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06.

Manulife Financial Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on MFC. National Bankshares dropped their target price on Manulife Financial from C$50.00 to C$49.00 and set an “outperform” rating on the stock in a report on Thursday, May 8th. TD Securities increased 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. Jefferies Financial Group dropped their price objective on Manulife Financial from C$51.00 to C$46.00 in a report on Monday, April 21st. Scotiabank dropped their price objective on Manulife Financial from C$53.00 to C$50.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Finally, Royal Bank of Canada set a C$51.00 price objective on Manulife Financial and gave the stock an “outperform” rating in a report on Tuesday, April 15th. 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’s stock. Based on data from MarketBeat.com, Manulife Financial presently has a consensus rating of “Moderate Buy” and an average price target 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.