Patrick David Graham Sells 6,843 Shares of Manulife Financial (TSE:MFC) Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) insider Patrick David Graham sold 6,843 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of C$62.06, for a total transaction of C$424,676.58.

Manulife Financial Stock Down 0.2%

Shares of TSE:MFC opened at C$61.26 on Wednesday. The company has a 50 day moving average price of C$59.52 and a two-hundred day moving average price of C$53.78. The company has a debt-to-equity ratio of 26.52, a quick ratio of 2.58 and a current ratio of 2.36. The company has a market capitalization of C$101.65 billion, a PE ratio of 16.60, a PEG ratio of 1.01 and a beta of 0.71. Manulife Financial Co. has a 52 week low of C$41.22 and a 52 week high of C$63.58.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported C$1.09 earnings per share for the quarter. Manulife Financial had a net margin of 11.62% and a return on equity of 12.98%. The company had revenue of C$20.34 billion for the quarter. Analysts forecast that Manulife Financial Co. will post 3.6104452 earnings per share for the current year.

Manulife Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Monday, September 21st will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 21st. Manulife Financial’s payout ratio is presently 50.14%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MFC shares. BMO Capital Markets raised their price target on Manulife Financial from C$67.00 to C$70.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Scotia boosted their price objective on Manulife Financial from C$61.00 to C$67.00 and gave the company a “sector outperform” rating in a research report on Friday, August 7th. TD raised their target price on shares of Manulife Financial from C$65.00 to C$67.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Barclays lifted their price target on shares of Manulife Financial from C$56.00 to C$59.00 and gave the company an “equal weight” rating in a research note on Thursday, August 6th. Finally, Canadian Imperial Bank of Commerce increased their price objective on shares of Manulife Financial from C$61.00 to C$69.00 in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$66.00.

About Manulife Financial

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.