Manulife Financial Co. (TSE:MFC) Senior Officer Steve Finch Sells 11,598 Shares

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Senior Officer Steve Finch sold 11,598 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of C$43.43, for a total value of C$503,646.63.

Manulife Financial Stock Performance

Shares of TSE:MFC traded up C$0.05 during mid-day trading on Friday, hitting C$44.47. 588,000 shares of the company traded hands, compared to its average volume of 5,549,715. The firm has a market cap of C$78.00 billion, a P/E ratio of 13.84, a PEG ratio of 1.01 and a beta of 1.06. Manulife Financial Co. has a 52-week low of C$31.24 and a 52-week high of C$46.42. The firm’s 50 day simple moving average is C$43.53 and its 200 day simple moving average is C$41.87.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.44 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 3.96%. Manulife Financial’s dividend payout ratio (DPR) is presently 49.79%.

Analyst Ratings Changes

A number of analysts recently commented on the company. CIBC increased their price objective on Manulife Financial from C$47.00 to C$48.00 in a research note on Friday, February 21st. TD Securities raised 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 raised their price target on Manulife Financial from C$40.00 to C$47.00 in a research note on Monday, January 6th. Cormark raised their price target on Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st. Finally, Jefferies Financial Group raised their price target on Manulife Financial from C$50.00 to C$51.00 in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$45.60.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.