Manulife Financial Co. (TSE:MFC) Director Aimee Decamillo Sells 9,500 Shares

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Aimee Decamillo sold 9,500 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of C$44.18, for a total value of C$419,748.00. Following the completion of the transaction, the director now owns 739 shares in the company, valued at C$32,651.98. The trade was a 92.78% decrease in their ownership of the stock.

Manulife Financial Trading Up 0.3%

MFC opened at C$44.53 on Friday. The stock has a 50-day moving average of C$42.24 and a 200 day moving average of C$43.24. Manulife Financial Co. has a 12 month low of C$32.87 and a 12 month high of C$46.42. The firm has a market cap of C$78.11 billion, a P/E ratio of 13.86, a P/E/G 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, June 19th. Stockholders of record on Thursday, June 19th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Wednesday, May 21st. Manulife Financial’s dividend payout ratio (DPR) is 49.79%.

Analysts Set New Price Targets

Several research analysts have weighed in on MFC shares. Royal Bank of Canada set a C$51.00 price target on Manulife Financial and gave the stock an “outperform” rating in a research note on Tuesday, April 15th. National Bankshares decreased their price target on shares of Manulife Financial from C$50.00 to C$49.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. CIBC cut their price objective on Manulife Financial from C$48.00 to C$46.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Barclays dropped their price target on Manulife Financial from C$49.00 to C$45.00 in a research note on Friday, April 11th. Finally, TD Securities lifted their price objective on Manulife Financial from C$48.00 to C$49.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$48.00.

About Manulife Financial

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada’s Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.