Insider Selling: Manulife Financial Co. (TSE:MFC) Director Sells 3,219 Shares of Stock

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC Director Kenneth Michael Ross sold 3,219 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of C$44.91, for a total transaction of C$144,572.68.

Manulife Financial Stock Performance

MFC stock traded up C$0.05 during mid-day trading on Friday, hitting C$42.08. 7,814,738 shares of the company were exchanged, compared to its average volume of 6,424,563. Manulife Financial Co. has a 1-year low of C$31.24 and a 1-year high of C$46.42. The firm's 50 day simple moving average is C$43.43 and its 200 day simple moving average is C$42.15. The firm has a market cap of C$73.81 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.01 and a beta of 1.06.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 19th will be paid a $0.44 dividend. This is an increase from Manulife Financial's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.76 annualized dividend and a dividend yield of 4.18%. Manulife Financial's dividend payout ratio (DPR) is currently 49.79%.

Analysts Set New Price Targets

MFC has been the subject of several recent research reports. Scotiabank upped their target price on shares of Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. TD Securities upped their price objective on Manulife Financial from C$48.00 to C$49.00 and gave the company a "buy" rating in a report on Thursday, February 20th. CIBC raised their target price on Manulife Financial from C$47.00 to C$48.00 in a report on Friday, February 21st. Jefferies Financial Group boosted their target price on Manulife Financial from C$50.00 to C$51.00 in a research report on Thursday, January 30th. Finally, Cormark increased their price target on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. 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 MarketBeat, Manulife Financial has an average rating of "Moderate Buy" and a consensus target price of C$45.60.

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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.