Manulife Financial Co. (TSE:MFC) Director Sells C$167,882.21 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Brooks Tingle sold 3,866 shares of Manulife Financial stock in a transaction dated Monday, February 24th. The stock was sold at an average price of C$43.43, for a total value of C$167,882.21.

Manulife Financial Price Performance

Shares of Manulife Financial stock opened at C$45.06 on Monday. The stock has a 50-day simple moving average of C$43.56 and a 200-day simple moving average of C$41.94. Manulife Financial Co. has a 52-week low of C$31.24 and a 52-week high of C$46.42. The firm has a market cap of C$79.04 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 1.01 and a beta of 1.06.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 19th will be issued a $0.44 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 3.91%. The ex-dividend date is Wednesday, March 5th. Manulife Financial’s payout ratio is 49.79%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MFC shares. Cormark lifted their target price on Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st. Barclays lifted their target price on Manulife Financial from C$40.00 to C$47.00 in a research note on Monday, January 6th. National Bankshares lifted their target price on Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday, November 7th. Scotiabank lifted their target price on Manulife Financial from C$48.00 to C$49.00 in a research note on Friday, November 8th. Finally, CIBC lifted their target price on Manulife Financial from C$47.00 to C$48.00 in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.