Manulife Financial (TSE:MFC) Director Anthony Alex Silva Acquires 2,334 Shares

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Anthony Alex Silva purchased 2,334 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were bought at an average price of C$53.16 per share, for a total transaction of C$124,075.44. Following the acquisition, the director directly owned 8,175 shares in the company, valued at C$434,583. This trade represents a 39.96% increase in their position.

Anthony Alex Silva also recently made the following trade(s):

• On Thursday, May 21st, Anthony Alex Silva sold 1,100 shares of Manulife Financial stock. The stock was sold at an average price of C$53.17, for a total transaction of C$58,487.00.
• On Thursday, May 21st, Anthony Alex Silva sold 1,234 shares of Manulife Financial stock. The shares were sold at an average price of C$53.15, for a total transaction of C$65,587.10.

Manulife Financial Price Performance

Shares of MFC traded down C$0.47 during midday trading on Friday, hitting C$53.33. The stock had a trading volume of 4,393,100 shares, compared to its average volume of 6,119,412. The stock’s 50 day moving average is C$50.61 and its 200 day moving average is C$49.90. The firm has a market cap of C$89.00 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 1.01 and a beta of 0.74. Manulife Financial Co. has a 1 year low of C$41.08 and a 1 year high of C$55.34.

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

Manulife Financial Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have commented on MFC shares. Scotiabank upped their price objective on 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. TD decreased their target price on Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. National Bank Financial upped their price target on shares of Manulife Financial from C$56.00 to C$59.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Jefferies Financial Group raised their price target on shares of Manulife Financial from C$54.00 to C$58.00 in a research note on Monday, February 2nd. Finally, Desjardins set a C$58.00 price objective on shares of Manulife Financial and gave the company a “buy” rating in a report on Friday, April 17th. One 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 company’s stock. According to data from MarketBeat.com, Manulife Financial currently has a consensus rating of “Buy” and an average target price of C$57.00.

About Manulife Financial

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.