Manulife Financial Co. (TSE:MFC) Senior Officer Sells C$534,308.26 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Senior Officer Steve Finch sold 11,598 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total value of C$534,308.26.

Manulife Financial Trading Down 1.1 %

Shares of MFC opened at C$45.03 on Thursday. Manulife Financial Co. has a 12 month low of C$26.01 and a 12 month high of C$46.42. The stock’s 50-day moving average is C$41.32 and its two-hundred day moving average is C$37.71. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. The stock has a market cap of C$79.70 billion, a PE ratio of 19.16, a P/E/G ratio of 1.01 and a beta of 1.06.

Manulife Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is presently 68.09%.

Analyst Upgrades and Downgrades

MFC has been the topic of several recent analyst reports. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. TD Securities increased their price target on shares of Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Scotiabank boosted their price objective on shares of Manulife Financial from C$48.00 to C$49.00 in a research note on Friday, November 8th. Barclays set a C$39.00 price objective on Manulife Financial and gave the stock an “equal weight” rating in a report on Thursday, September 5th. Finally, Royal Bank of Canada lifted their target price on Manulife Financial from C$38.00 to C$39.00 in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$42.27.

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.