Steve Finch Sells 11,598 Shares of Manulife Financial Co. (TSE:MFC) Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Senior Officer Steve Finch sold 11,598 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total value of C$534,308.26.

Manulife Financial Stock Up 0.4 %

MFC stock opened at C$45.51 on Wednesday. The firm has a 50-day moving average price of C$41.16 and a 200-day moving average price of C$37.62. Manulife Financial Co. has a 12 month low of C$26.01 and a 12 month high of C$46.42. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. The stock has a market capitalization of C$80.55 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06.

Manulife Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be given a $0.40 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.60 dividend on an annualized basis and a yield of 3.52%. Manulife Financial’s dividend payout ratio is currently 68.09%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MFC shares. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Scotiabank increased their price target on shares of Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. TD Securities raised their price objective on shares of Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. CIBC upped their target price on Manulife Financial from C$42.00 to C$46.00 in a research report on Friday, November 8th. Finally, Jefferies Financial Group lifted their price target on Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Manulife Financial currently has a consensus rating of “Moderate Buy” and a consensus target price 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.