Manulife Financial Co. (TSE:MFC) Director Sells C$47,626.77 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Ka Ming (Kenneth) Dai sold 1,070 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of C$44.51, for a total value of C$47,626.77.

Ka Ming (Kenneth) Dai also recently made the following trade(s):

• On Friday, May 16th, Ka Ming (Kenneth) Dai sold 1,067 shares of Manulife Financial stock. The shares were sold at an average price of C$44.80, for a total value of C$47,801.60.
• On Wednesday, May 14th, Ka Ming (Kenneth) Dai sold 1,073 shares of Manulife Financial stock. The shares were sold at an average price of C$44.30, for a total value of C$47,536.05.

Manulife Financial Stock Performance

TSE MFC opened at C$42.94 on Friday. Manulife Financial Co. has a fifty-two week low of C$32.87 and a fifty-two week high of C$46.42. The stock has a 50 day simple moving average of C$42.43 and a two-hundred day simple moving average of C$43.32. The stock has a market cap of C$75.32 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06.

Manulife Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 19th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.10%. The ex-dividend date is Wednesday, May 21st. Manulife Financial’s dividend payout ratio (DPR) is currently 49.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. National Bankshares dropped their target price on Manulife Financial from C$50.00 to C$49.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. CIBC dropped their target price 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. Barclays dropped their target price on Manulife Financial from C$49.00 to C$45.00 in a report on Friday, April 11th. TD Securities increased their target price on Manulife Financial from C$48.00 to C$49.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Royal Bank of Canada set a C$51.00 target price on Manulife Financial and gave the company an “outperform” rating in a report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.