Manulife Financial Co. (TSE:MFC) Senior Officer Sells C$160,781.74 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Senior Officer Trevor Kreel sold 3,636 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of C$44.22, for a total value of C$160,781.74.

Manulife Financial Price Performance

Shares of MFC stock opened at C$44.77 on Monday. 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 business has a fifty day moving average of C$42.31 and a 200 day moving average of C$43.28. Manulife Financial Co. has a 1 year low of C$32.87 and a 1 year high of C$46.42.

Manulife Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MFC. Royal Bank of Canada set a C$51.00 target price on Manulife Financial and gave the stock an “outperform” rating in a report on Tuesday, April 15th. National Bankshares decreased their price objective on Manulife Financial from C$50.00 to C$49.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Barclays decreased their price objective on Manulife Financial from C$49.00 to C$45.00 in a report on Friday, April 11th. TD Securities increased their price objective on Manulife Financial from C$48.00 to C$49.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, CIBC decreased their price objective on Manulife Financial from C$48.00 to C$46.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Two investment 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 company has an average rating of “Moderate Buy” and an average target price 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.