Insider Selling: Manulife Financial Co. (TSE:MFC) Director Sells C$1,727,395.86 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Rocco Gori sold 48,345 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total value of C$1,727,395.86.

Manulife Financial Trading Up 0.1 %

Manulife Financial stock opened at C$35.76 on Monday. The firm has a market cap of C$63.65 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 12.56 and a beta of 1.06. Manulife Financial Co. has a 1 year low of C$23.69 and a 1 year high of C$37.46. The firm’s 50 day moving average price is C$35.68 and its two-hundred day moving average price is C$34.00. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68.

Manulife Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Wednesday, August 21st. Manulife Financial’s dividend payout ratio (DPR) is presently 68.09%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MFC. Scotiabank boosted their price target on Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, August 9th. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. National Bank Financial upgraded shares of Manulife Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a research report on Wednesday, May 8th. CIBC upped their price target on shares of Manulife Financial from C$34.00 to C$36.00 in a research note on Friday, May 10th. Finally, Royal Bank of Canada raised their price objective on shares of Manulife Financial from C$38.00 to C$39.00 in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$39.20.

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.