Manulife Financial (TSE:MFC) Insider Sells C$424,676.58 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) insider Patrick David Graham sold 6,843 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of C$62.06, for a total transaction of C$424,676.58.

Manulife Financial Stock Performance

MFC stock opened at C$60.06 on Thursday. Manulife Financial Co. has a twelve month low of C$41.22 and a twelve month high of C$63.58. The company has a quick ratio of 2.58, a current ratio of 2.36 and a debt-to-equity ratio of 26.52. The company has a market cap of C$99.65 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. The business’s fifty day moving average is C$59.62 and its 200-day moving average is C$53.84.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported C$1.09 EPS for the quarter. Manulife Financial had a return on equity of 12.98% and a net margin of 11.62%.The business had revenue of C$20.34 billion during the quarter. Equities research analysts forecast that Manulife Financial Co. will post 3.6104452 EPS for the current year.

Manulife Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Monday, September 21st will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.2%. Manulife Financial’s dividend payout ratio is 50.14%.

Analysts Set New Price Targets

MFC has been the subject of a number of analyst reports. National Bank Financial boosted their price objective on shares of Manulife Financial from C$59.00 to C$69.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Desjardins increased their target price on shares of Manulife Financial from C$63.00 to C$68.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Jefferies Financial Group lifted their price target on shares of Manulife Financial from C$61.00 to C$70.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. TD lifted their price target on shares of Manulife Financial from C$65.00 to C$67.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Canadian Imperial Bank of Commerce boosted their price target on shares of Manulife Financial from C$61.00 to C$69.00 in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$66.00.

About Manulife Financial

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.