Naveed Irshad Sells 4,545 Shares of Manulife Financial Co. (TSE:MFC) Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Senior Officer Naveed Irshad sold 4,545 shares of the firm’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of C$44.22, for a total value of C$200,977.17.

Manulife Financial Trading Up 0.5%

Shares of TSE:MFC opened at C$44.77 on Friday. The stock’s 50-day moving average price is C$42.31 and its two-hundred day moving average price is C$43.27. 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$78.53 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.01 and a beta of 1.06.

Manulife Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 19th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Wednesday, May 21st. Manulife Financial’s payout ratio is 49.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. National Bankshares dropped their price target on Manulife Financial from C$50.00 to C$49.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Royal Bank of Canada set a C$51.00 price objective on Manulife Financial and gave the company an “outperform” rating in a research note on Tuesday, April 15th. Jefferies Financial Group decreased their price objective on Manulife Financial from C$51.00 to C$46.00 in a research note on Monday, April 21st. Barclays decreased their price objective on Manulife Financial from C$49.00 to C$45.00 in a research note on Friday, April 11th. Finally, TD Securities increased their price objective on Manulife Financial from C$48.00 to C$49.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Manulife Financial currently has an average rating of “Moderate Buy” and a consensus 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.