Manulife Financial (TSE:MFC) Director Aimee Decamillo Sells 18,000 Shares

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Aimee Decamillo sold 18,000 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of C$51.77, for a total transaction of C$931,860.00. Following the sale, the director directly owned 4,996 shares in the company, valued at approximately C$258,642.92. The trade was a 78.27% decrease in their position.

Manulife Financial Stock Down 1.0%

Shares of TSE MFC opened at C$53.26 on Friday. The firm’s 50-day moving average price is C$50.76 and its 200-day moving average price is C$49.92. The company has a market cap of C$88.89 billion, a PE ratio of 17.35, a PEG ratio of 1.01 and a beta of 0.74. Manulife Financial Co. has a 52-week low of C$41.08 and a 52-week high of C$55.34.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings results on Wednesday, May 13th. The financial services provider reported C$1.06 earnings per share (EPS) for the quarter. The firm had revenue of C$2.15 billion for the quarter. Manulife Financial had a net margin of 11.97% and a return on equity of 12.65%. As a group, equities research analysts anticipate that Manulife Financial Co. will post 3.6104452 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 19th were issued a dividend of $0.485 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $1.94 annualized dividend and a yield of 3.6%. Manulife Financial’s payout ratio is currently 57.33%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MFC. TD Securities lowered their price target on shares of Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. TD reduced their price objective on shares of Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. National Bank Financial lifted their price objective on shares of Manulife Financial from C$56.00 to C$59.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Jefferies Financial Group lifted their price objective on shares of Manulife Financial from C$54.00 to C$58.00 in a research report on Monday, February 2nd. Finally, Scotiabank lifted their price objective on shares of Manulife Financial from C$55.00 to C$56.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$57.00.

Manulife Financial Company Profile

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.