Kenneth Michael Ross Sells 3,219 Shares of Manulife Financial Co. (TSE:MFC) Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Kenneth Michael Ross sold 3,219 shares of Manulife Financial stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of C$44.91, for a total value of C$144,572.68.

Manulife Financial Stock Up 0.1 %

Shares of TSE MFC opened at C$42.08 on Friday. Manulife Financial Co. has a twelve month low of C$31.24 and a twelve month high of C$46.42. The firm has a market cap of C$73.81 billion, a P/E ratio of 13.09, a PEG ratio of 1.01 and a beta of 1.06. The company has a 50 day moving average of C$43.43 and a 200 day moving average of C$42.15.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 19th will be issued a $0.44 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Wednesday, March 5th. Manulife Financial’s payout ratio is presently 49.79%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. TD Securities lifted their price objective on Manulife Financial from C$48.00 to C$49.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Barclays lifted their price objective on Manulife Financial from C$40.00 to C$47.00 in a research report on Monday, January 6th. CIBC lifted their price objective on Manulife Financial from C$47.00 to C$48.00 in a research report on Friday, February 21st. Cormark boosted their price target on Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. Finally, Jefferies Financial Group boosted their price target on Manulife Financial from C$50.00 to C$51.00 in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$45.60.

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.