Manulife Financial Co. (TSE:MFC) Director Sells C$144,572.68 in Stock

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

Manulife Financial Stock Performance

Shares of TSE MFC opened at C$42.08 on Monday. 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 price-to-earnings ratio of 13.09, a PEG ratio of 1.01 and a beta of 1.06. The firm’s 50-day simple moving average is C$43.43 and its 200 day simple moving average is C$42.19.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 19th will be paid a $0.44 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, March 5th. This represents a $1.76 annualized dividend and a yield of 4.18%. Manulife Financial’s dividend payout ratio (DPR) is 49.79%.

Analysts Set New Price Targets

A number of brokerages have commented on MFC. CIBC upped their price target on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Friday, February 21st. Jefferies Financial Group increased their price objective on shares of Manulife Financial from C$50.00 to C$51.00 in a research report on Thursday, January 30th. Barclays increased their price objective on shares of Manulife Financial from C$40.00 to C$47.00 in a research report on Monday, January 6th. TD Securities increased their price objective on shares of Manulife Financial from C$48.00 to C$49.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Cormark increased their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Manulife Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of C$45.60.

About Manulife Financial

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.