Insider Selling: Manulife Financial Co. (TSE:MFC) Senior Officer Sells C$789,272.07 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Senior Officer Rahim Hirji sold 17,849 shares of the 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$789,272.07.

Manulife Financial Stock Up 0.5%

Shares of MFC stock opened at C$44.77 on Monday. The stock has a 50-day simple moving average of C$42.31 and a 200 day simple moving average of C$43.28. Manulife Financial Co. has a fifty-two week low of C$32.87 and a fifty-two week high of C$46.42. The stock has a market capitalization of C$78.53 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.01 and a beta of 1.06.

Manulife Financial Announces Dividend

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 dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $1.76 annualized dividend and a yield of 3.93%. Manulife Financial’s dividend payout ratio is currently 49.79%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MFC. Scotiabank decreased their price target on 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. TD Securities increased their price target on Manulife Financial from C$48.00 to C$49.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Barclays decreased their price target on Manulife Financial from C$49.00 to C$45.00 in a research note on Friday, April 11th. National Bankshares decreased their price target on Manulife Financial from C$50.00 to C$49.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Finally, Royal Bank of Canada set a C$51.00 price target on Manulife Financial and gave the stock an “outperform” rating in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.