Trevor Kreel Sells 3,636 Shares of Manulife Financial Co. (TSE:MFC) Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Senior Officer Trevor Kreel sold 3,636 shares of Manulife Financial stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of C$44.22, for a total value of C$160,781.74.

Manulife Financial Stock Up 0.5%

Shares of TSE:MFC opened at C$44.77 on Friday. Manulife Financial Co. has a 12-month low of C$32.87 and a 12-month high of C$46.42. The stock has a market cap of C$78.53 billion, a PE ratio of 13.93, a P/E/G ratio of 1.01 and a beta of 1.06. The business has a 50 day moving average of C$42.31 and a 200-day moving average of C$43.27.

Manulife Financial Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently commented on MFC. Jefferies Financial Group reduced their price target on Manulife Financial from C$51.00 to C$46.00 in a report on Monday, April 21st. Barclays reduced their price target on Manulife Financial from C$49.00 to C$45.00 in a report on Friday, April 11th. Scotiabank reduced their price objective on Manulife Financial from C$53.00 to C$50.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. CIBC reduced their price objective on Manulife Financial from C$48.00 to C$46.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Finally, Royal Bank of Canada set a C$51.00 price objective on Manulife Financial and gave the stock an “outperform” rating in a report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock 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.