Insider Selling: Manulife Financial Co. (TSE:MFC) Director Sells 3,866 Shares of Stock

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

Manulife Financial Stock Performance

Shares of Manulife Financial stock opened at C$45.51 on Wednesday. The business has a 50-day simple moving average of C$41.16 and a 200 day simple moving average of C$37.62. The firm has a market capitalization of C$80.55 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.01 and a beta of 1.06. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. Manulife Financial Co. has a one year low of C$26.01 and a one year high of C$46.42.

Manulife Financial Announces Dividend

The company also recently announced 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s payout ratio is 68.09%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MFC. Royal Bank of Canada increased their price target on Manulife Financial from C$38.00 to C$39.00 in a research note on Friday, August 9th. Jefferies Financial Group boosted their price target on shares of Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Barclays set a C$39.00 price objective on shares of Manulife Financial and gave the company an “equal weight” rating in a research note on Thursday, September 5th. TD Securities lifted their target price on shares of Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$42.27.

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.