John Richard Hatch Sells 3,000 Shares of Manulife Financial Co. (TSE:MFC) Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director John Richard Hatch sold 3,000 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of C$44.36, for a total transaction of C$133,065.66.

Manulife Financial Stock Up 0.5%

TSE:MFC opened at C$44.77 on Friday. The firm has a market capitalization of C$78.53 billion, a PE ratio of 13.93, 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$32.87 and a 12-month high of C$46.42. The firm has a 50-day moving average price of C$42.31 and a 200 day moving average price of C$43.26.

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. The ex-dividend date is Wednesday, May 21st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.93%. Manulife Financial’s payout ratio is presently 49.79%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MFC shares. Jefferies Financial Group decreased their price target on Manulife Financial from C$51.00 to C$46.00 in a research note on Monday, April 21st. TD Securities upped their target price on Manulife Financial from C$48.00 to C$49.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. National Bankshares dropped 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 report on Thursday, May 8th. CIBC reduced their price objective on shares of Manulife Financial from C$48.00 to C$46.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Finally, Barclays lowered their target price on shares of Manulife Financial from C$49.00 to C$45.00 in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$48.00.

Manulife Financial Company Profile

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.