Manulife Financial Co. (TSE:MFC) Director Sells C$133,065.66 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director John Richard Hatch sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of C$44.36, for a total transaction of C$133,065.66.

Manulife Financial Stock Up 0.5%

Shares of MFC stock opened at C$44.77 on Friday. Manulife Financial Co. has a 12-month low of C$32.87 and a 12-month high of C$46.42. The firm 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. The firm has a fifty day moving average of C$42.31 and a 200-day moving average of C$43.27.

Manulife Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MFC. Jefferies Financial Group cut their target price on shares of Manulife Financial from C$51.00 to C$46.00 in a research note on Monday, April 21st. Royal Bank of Canada set a C$51.00 target price on shares of Manulife Financial and gave the company an “outperform” rating in a research note on Tuesday, April 15th. Barclays cut their target price on shares of Manulife Financial from C$49.00 to C$45.00 in a research note on Friday, April 11th. 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 note on Thursday, May 8th. Finally, TD Securities lifted their target price on shares of 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. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$48.00.

About Manulife Financial

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.