Insider Selling: Manulife Financial Co. (TSE:MFC) Director Sells 4,243 Shares of Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Kenneth Michael Ross sold 4,243 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of C$45.80, for a total transaction of C$194,315.82.

Manulife Financial Stock Performance

Manulife Financial stock traded up C$0.44 during midday trading on Thursday, hitting C$45.85. 288,575 shares of the company were exchanged, compared to its average volume of 6,497,038. The business has a fifty day simple moving average of C$42.67 and a two-hundred day simple moving average of C$38.45. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68. The firm has a market capitalization of C$81.15 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. Manulife Financial Co. has a fifty-two week low of C$26.82 and a fifty-two week high of C$46.42.

Manulife Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 3.49%. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s dividend payout ratio is currently 68.09%.

Analyst Ratings Changes

MFC has been the topic of several analyst reports. National Bankshares lifted their price target on shares of Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. TD Securities increased their price target on Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Cormark boosted their price target on Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st. Finally, Barclays upped their price objective on shares of Manulife Financial from C$39.00 to C$40.00 in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.