Manulife Financial Co. (TSE:MFC) Director Sells C$419,748.00 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Aimee Decamillo sold 9,500 shares of Manulife Financial stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of C$44.18, for a total value of C$419,748.00. Following the completion of the sale, the director now directly owns 739 shares in the company, valued at approximately C$32,651.98. This represents a 92.78% decrease in their position.

Manulife Financial Trading Up 0.5%

Shares of MFC opened at C$44.77 on Friday. The company has a market cap of C$78.53 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.01 and a beta of 1.06. The company’s fifty day simple moving average is C$42.31 and its 200 day simple moving average is C$43.27. Manulife Financial Co. has a 1-year low of C$32.87 and a 1-year high of C$46.42.

Manulife Financial Announces Dividend

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

Analyst Ratings Changes

MFC has been the subject of several research reports. Scotiabank decreased their price target on shares of Manulife Financial from C$53.00 to C$50.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Jefferies Financial Group reduced their target price on shares of Manulife Financial from C$51.00 to C$46.00 in a report on Monday, April 21st. National Bankshares lowered their price target on shares of Manulife Financial from C$50.00 to C$49.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. Royal Bank of Canada set a C$51.00 price target on shares of Manulife Financial and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. Finally, TD Securities raised 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. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently 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.