Insider Selling: Manulife Financial Co. (TSE:MFC) Director Sells 3,866 Shares of Stock

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

Manulife Financial Stock Performance

Shares of TSE MFC opened at C$45.06 on Friday. The company has a market capitalization of C$79.04 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The company’s fifty day moving average price is C$43.56 and its 200 day moving average price is C$41.89. 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 announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 19th will be paid a dividend of $0.44 per share. This is a positive change 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 of this dividend is Wednesday, March 5th. Manulife Financial’s dividend payout ratio is presently 49.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Barclays increased their price objective on Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th. Scotiabank increased their price target on shares of Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. TD Securities lifted their price objective on shares of Manulife Financial from C$48.00 to C$49.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Cormark increased their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st. Finally, CIBC boosted their target price on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Friday, February 21st. 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.