Insider Selling: Manulife Financial Co. (TSE:MFC) Senior Officer Sells 57,064 Shares of Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Senior Officer James D. Gallagher sold 57,064 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total value of C$2,556,638.39.

Manulife Financial Stock Down 0.2 %

Shares of Manulife Financial stock traded down C$0.08 on Wednesday, reaching C$44.73. The stock had a trading volume of 1,313,150 shares, compared to its average volume of 6,505,418. The company has a 50 day moving average price of C$41.91 and a 200 day moving average price of C$38.04. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60. Manulife Financial Co. has a 1 year low of C$26.11 and a 1 year high of C$46.42. The stock has a market capitalization of C$79.17 billion, a P/E ratio of 19.07, a P/E/G ratio of 1.01 and a beta of 1.06.

Manulife Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.60 annualized dividend and a yield of 3.58%. Manulife Financial’s dividend payout ratio (DPR) is 68.09%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MFC shares. TD Securities raised their price target on Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barclays raised their price target on Manulife Financial from C$39.00 to C$40.00 in a research note on Friday, November 22nd. Jefferies Financial Group raised their price target on Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. National Bankshares upped their target price on Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Finally, CIBC raised their price target on Manulife Financial from C$42.00 to C$46.00 in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$43.45.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.