Manulife Financial Co. (TSE:MFC) Director Brooks Tingle Sells 3,866 Shares

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Brooks Tingle sold 3,866 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of C$43.43, for a total transaction of C$167,882.21.

Manulife Financial Trading Up 1.4 %

TSE MFC opened at C$45.06 on Friday. The company has a fifty day simple moving average of C$43.56 and a 200 day simple moving average of C$41.89. The company has a market cap of C$79.04 billion, a P/E ratio of 14.02, a P/E/G ratio of 1.01 and a beta of 1.06. Manulife Financial Co. has a 1 year low of C$31.24 and a 1 year high of C$46.42.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 19th 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 3.91%. The ex-dividend date is Wednesday, March 5th. Manulife Financial’s dividend payout ratio is currently 49.79%.

Wall Street Analysts Forecast Growth

MFC has been the topic of several research reports. Scotiabank upped their price objective on shares of Manulife Financial from C$48.00 to C$49.00 in a research note on Friday, November 8th. Jefferies Financial Group upped their price objective on shares of Manulife Financial from C$50.00 to C$51.00 in a research note on Thursday, January 30th. Cormark boosted their target price on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. National Bankshares boosted their target price on shares of Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday, November 7th. Finally, TD Securities boosted their target price on shares of Manulife Financial from C$48.00 to C$49.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Two research 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. Based on data from MarketBeat.com, Manulife Financial presently has an average rating of “Moderate Buy” and an average target price of C$45.60.

About Manulife Financial

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.