Manulife Financial Co. (TSE:MFC) Raises Dividend to $0.44 Per Share

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC declared a quarterly dividend on Wednesday, February 19th, RTT News reports. Stockholders of record on Wednesday, March 5th will be given a dividend of 0.44 per share by the financial services provider on Wednesday, March 19th. This represents a $1.76 annualized dividend and a dividend yield of 4.08%. This is an increase from Manulife Financial's previous quarterly dividend of $0.40.

Manulife Financial Stock Performance

TSE:MFC traded down C$1.98 during mid-day trading on Friday, hitting C$43.16. 6,555,302 shares of the stock were exchanged, compared to its average volume of 5,565,881. The firm's 50-day simple moving average is C$43.51 and its 200 day simple moving average is C$41.53. The stock has a market capitalization of C$75.70 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. Manulife Financial has a fifty-two week low of C$31.24 and a fifty-two week high of C$46.42.

Insider Activity at Manulife Financial

In other news, Senior Officer James D. Gallagher sold 57,064 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total value of C$2,556,638.39. Also, Director Kenneth Michael Ross sold 4,243 shares of the business's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of C$45.80, for a total value of C$194,315.82. Insiders have sold 62,307 shares of company stock valued at $2,796,173 over the last ninety days. 0.03% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MFC has been the subject of a number of research reports. National Bankshares lifted their target price on Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. CIBC lifted their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a research note on Friday. Barclays boosted their price objective on shares of Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th. Jefferies Financial Group raised their target price on shares of Manulife Financial from C$50.00 to C$51.00 in a report on Thursday, January 30th. Finally, TD Securities boosted their price target on Manulife Financial from C$48.00 to C$49.00 and gave the company a "buy" rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$45.60.

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.