Manulife Financial Co. (TSE:MFC) Senior Officer Sells C$160,781.74 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Senior Officer Trevor Kreel sold 3,636 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of C$44.22, for a total value of C$160,781.74.

Manulife Financial Stock Up 0.5%

Shares of TSE:MFC opened at C$44.77 on Monday. Manulife Financial Co. has a 52-week low of C$32.87 and a 52-week high of C$46.42. The stock has a market cap of C$78.53 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The business’s 50 day moving average is C$42.31 and its 200 day moving average is C$43.28.

Manulife Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 19th will be paid a $0.44 dividend. 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 (DPR) is currently 49.79%.

Analysts Set New Price Targets

Several research analysts have issued reports on MFC shares. CIBC dropped their target price on Manulife Financial from C$48.00 to C$46.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. TD Securities boosted their target price on Manulife Financial from C$48.00 to C$49.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Barclays dropped their target price on Manulife Financial from C$49.00 to C$45.00 in a research report on Friday, April 11th. Royal Bank of Canada set a C$51.00 target price on Manulife Financial and gave the company an “outperform” rating in a research report on Tuesday, April 15th. Finally, National Bankshares dropped their target price on Manulife Financial from C$50.00 to C$49.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Two 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 stock. According to data from MarketBeat, Manulife Financial currently has a consensus rating of “Moderate Buy” and an average price target 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.