Insider Selling: Manulife Financial (TSE:MFC) Director Sells 3,500 Shares of Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Adam Thomas Wise sold 3,500 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of C$46.47, for a total transaction of C$162,645.00. Following the transaction, the director owned 2,497 shares in the company, valued at approximately C$116,035.59. The trade was a 58.36% decrease in their ownership of the stock.

Manulife Financial Trading Down 0.9%

Shares of TSE:MFC traded down C$0.41 during trading on Thursday, hitting C$45.46. 1,205,353 shares of the company’s stock were exchanged, compared to its average volume of 6,843,861. The company has a current ratio of 2.12, a quick ratio of 2.58 and a debt-to-equity ratio of 28.80. The firm has a market cap of C$76.20 billion, a P/E ratio of 14.81, a PEG ratio of 1.01 and a beta of 0.79. The firm has a 50-day moving average price of C$50.12 and a two-hundred day moving average price of C$47.49. Manulife Financial Co. has a 1-year low of C$36.93 and a 1-year high of C$52.97.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, February 11th. The financial services provider reported C$1.12 earnings per share for the quarter. Manulife Financial had a net margin of 10.91% and a return on equity of 11.34%. The business had revenue of C$22.03 billion for the quarter. Equities analysts predict that Manulife Financial Co. will post 3.6104452 earnings per share for the current year.

Manulife Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 19th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.3%. Manulife Financial’s payout ratio is 57.33%.

Analysts Set New Price Targets

Several equities analysts have weighed in on MFC shares. Jefferies Financial Group increased their target price on Manulife Financial from C$54.00 to C$58.00 in a research note on Monday, February 2nd. Scotiabank boosted their target price on Manulife Financial from C$55.00 to C$56.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Royal Bank Of Canada increased their price target on shares of Manulife Financial from C$52.00 to C$55.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Canadian Imperial Bank of Commerce raised shares of Manulife Financial from a “hold” rating to an “outperform” rating and lifted their price objective for the stock from C$50.00 to C$58.00 in a research note on Thursday, January 8th. Finally, TD Securities decreased their price objective on shares of Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating for the company in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$55.63.

Manulife Financial Company Profile

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.