Manulife Financial Co. (TSE:MFC) Director Sells C$178,102.75 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Brooks Tingle sold 3,866 shares of Manulife Financial stock in a transaction on Thursday, November 14th. The shares were sold at an average price of C$46.07, for a total value of C$178,102.75.

Manulife Financial Price Performance

Shares of TSE MFC opened at C$45.03 on Thursday. The stock’s 50-day simple moving average is C$41.32 and its 200-day simple moving average is C$37.71. 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$79.70 billion, a PE ratio of 19.16, 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$26.01 and a fifty-two week high of C$46.42.

Manulife Financial Announces Dividend

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 given a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.60 annualized dividend and a dividend yield of 3.55%. Manulife Financial’s dividend payout ratio is presently 68.09%.

Analyst Upgrades and Downgrades

MFC has been the subject of several research reports. TD Securities lifted their target price on Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. National Bankshares upped their target price on shares of Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday, November 7th. Royal Bank of Canada raised their price target on shares of Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. CIBC boosted their price target on shares of Manulife Financial from C$42.00 to C$46.00 in a research note on Friday, November 8th. Finally, Scotiabank increased their price objective on Manulife Financial from C$48.00 to C$49.00 in a research note on Friday, November 8th. One 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$42.27.

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.