Anthony Alex Silva Sells 1,000 Shares of Manulife Financial Co. (TSE:MFC) Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Anthony Alex Silva sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of C$45.22, for a total value of C$45,218.70.

Manulife Financial Stock Up 0.4 %

Manulife Financial stock opened at C$45.07 on Friday. The firm has a market cap of C$79.77 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 1.01 and a beta of 1.06. Manulife Financial Co. has a 12 month low of C$26.17 and a 12 month high of C$46.42. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. The stock has a fifty day simple moving average of C$42.30 and a two-hundred day simple moving average of C$38.22.

Manulife Financial Dividend Announcement

The company also recently declared 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. The ex-dividend date is Wednesday, November 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.55%. Manulife Financial’s dividend payout ratio (DPR) is currently 68.09%.

Wall Street Analysts Forecast Growth

MFC has been the subject of several research reports. 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. CIBC raised their price objective on Manulife Financial from C$42.00 to C$46.00 in a research report on Friday, November 8th. Barclays raised their price objective on Manulife Financial from C$39.00 to C$40.00 in a research report on Friday, November 22nd. Royal Bank of Canada raised their price objective on Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. Finally, Scotiabank raised their price objective on Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Manulife Financial has an average rating of “Moderate Buy” and an average target price of C$43.45.

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.