Insider Selling: Manulife Financial Co. (TSE:MFC) Senior Officer Sells 57,064 Shares of Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Senior Officer James D. Gallagher sold 57,064 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total value of C$2,556,638.39.

Manulife Financial Price Performance

Manulife Financial stock traded down C$0.08 during midday trading on Wednesday, reaching C$44.73. 1,313,150 shares of the stock traded hands, compared to its average volume of 6,505,418. The stock’s fifty day moving average is C$41.91 and its 200-day moving average is C$38.04. Manulife Financial Co. has a 12 month low of C$26.11 and a 12 month high of C$46.42. The stock has a market cap of C$79.17 billion, a P/E ratio of 19.07, a PEG ratio of 1.01 and a beta of 1.06. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s payout ratio is 68.09%.

Analyst Upgrades and Downgrades

A number of analysts have commented on MFC shares. Cormark upped their price target on Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. National Bankshares increased their target price on Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday, November 7th. Royal Bank of Canada increased their target price on Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. TD Securities increased their target price on Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group increased their target price on Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$43.45.

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.