Manulife Financial Co. (TSE:MFC) Director Sells C$45,218.70 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Anthony Alex Silva sold 1,000 shares of Manulife Financial stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of C$45.22, for a total transaction of C$45,218.70.

Manulife Financial Trading Down 0.2 %

MFC stock traded down C$0.10 during mid-day trading on Wednesday, reaching C$44.71. The company’s stock had a trading volume of 5,444,904 shares, compared to its average volume of 6,523,917. The company has a market cap of C$79.14 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. Manulife Financial Co. has a 12 month low of C$26.11 and a 12 month high of C$46.42. The business’s 50 day moving average price is C$41.91 and its 200 day moving average price is C$38.04. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60.

Manulife Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.60 annualized dividend and a dividend yield of 3.58%. Manulife Financial’s payout ratio is 68.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. 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 boosted their price target 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. Cormark raised their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st. Finally, CIBC lifted their price objective on Manulife Financial from C$42.00 to C$46.00 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 issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$43.45.

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.