Manulife Financial Co. (TSE:MFC) Director Sells C$47,626.77 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Ka Ming (Kenneth) Dai sold 1,070 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of C$44.51, for a total value of C$47,626.77.

Ka Ming (Kenneth) Dai also recently made the following trade(s):

• On Wednesday, May 14th, Ka Ming (Kenneth) Dai sold 1,073 shares of Manulife Financial stock. The shares were sold at an average price of C$44.30, for a total value of C$47,536.05.

Manulife Financial Trading Down 1.0%

MFC traded down C$0.43 on Tuesday, reaching C$44.34. The company had a trading volume of 6,673,584 shares, compared to its average volume of 7,455,950. Manulife Financial Co. has a one year low of C$32.87 and a one year high of C$46.42. The company has a market capitalization of C$77.77 billion, a P/E ratio of 13.80, a PEG ratio of 1.01 and a beta of 1.06. The company has a fifty day moving average of C$42.36 and a 200-day moving average of C$43.31.

Manulife Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 19th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Wednesday, May 21st. Manulife Financial’s dividend payout ratio (DPR) is presently 49.79%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Scotiabank cut their price target on shares of 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. Jefferies Financial Group dropped their target price on shares of Manulife Financial from C$51.00 to C$46.00 in a research report on Monday, April 21st. Royal Bank of Canada set a C$51.00 price target on Manulife Financial and gave the stock an “outperform” rating in a research note on Tuesday, April 15th. CIBC cut their price objective on Manulife Financial from C$48.00 to C$46.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Finally, TD Securities lifted their target price on 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. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Manulife Financial has an average rating of “Moderate Buy” and a consensus 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.