Manulife Financial Co. (TSE:MFC) Director Sells C$133,065.66 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director John Richard Hatch sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of C$44.36, for a total value of C$133,065.66.

Manulife Financial Stock Up 0.5%

MFC stock opened at C$44.77 on Friday. The company has a market cap of C$78.53 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. Manulife Financial Co. has a twelve month low of C$32.87 and a twelve month high of C$46.42. The business’s 50-day simple moving average is C$42.31 and its 200 day simple moving average is C$43.27.

Manulife Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 19th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Wednesday, May 21st. Manulife Financial’s dividend payout ratio is 49.79%.

Analyst Ratings Changes

MFC has been the topic of several research analyst reports. CIBC lowered their price target on Manulife Financial from C$48.00 to C$46.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Barclays decreased their target price on Manulife Financial from C$49.00 to C$45.00 in a research report on Friday, April 11th. Scotiabank decreased their target price on Manulife Financial from C$53.00 to C$50.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Royal Bank of Canada set a C$51.00 target price on Manulife Financial and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. Finally, National Bankshares decreased their target price on Manulife Financial from C$50.00 to C$49.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Manulife Financial presently has an average rating of “Moderate Buy” and a consensus target price 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.