Key Points
- Insider sale: Director Adam Thomas Wise sold 3,500 shares on March 10 at an average price of C$46.47 for C$162,645, leaving him with 2,497 shares — a 58.36% reduction in his holdings.
- Dividend announced: Manulife declared a quarterly dividend of $0.485 per share payable March 19 (ex-dividend Feb 25), equivalent to a $1.94 annualized payout and about a 4.2% yield with a 57.33% payout ratio.
- Analyst sentiment: Multiple brokerages raised targets (Jefferies to C$58, Scotiabank to C$56, RBC/Desjardins to C$55), leaving an overall consensus rating of Buy and an average target of C$55.63.
Manulife Financial Co. (TSE:MFC - Get Free Report) (NYSE:MFC) Director Adam Thomas Wise sold 3,500 shares of the company's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of C$46.47, for a total value of C$162,645.00. Following the completion of the transaction, the director directly owned 2,497 shares in the company, valued at approximately C$116,035.59. The trade was a 58.36% decrease in their ownership of the stock.
Manulife Financial Stock Up 0.7%
Shares of TSE MFC traded up C$0.33 during trading hours on Friday, hitting C$46.02. The stock had a trading volume of 778,275 shares, compared to its average volume of 6,750,140. The firm's 50-day moving average price is C$50.04 and its two-hundred day moving average price is C$47.47. Manulife Financial Co. has a 52 week low of C$36.93 and a 52 week high of C$52.97. The company has a market capitalization of C$77.14 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.01 and a beta of 0.79. The company has a debt-to-equity ratio of 28.80, a quick ratio of 2.58 and a current ratio of 2.12.
Manulife Financial (TSE:MFC - Get Free Report) (NYSE:MFC) last posted its earnings results on Wednesday, February 11th. The financial services provider reported C$1.12 earnings per share (EPS) for the quarter. Manulife Financial had a net margin of 10.91% and a return on equity of 11.34%. The firm had revenue of C$22.03 billion during the quarter. Analysts anticipate that Manulife Financial Co. will post 3.6104452 EPS for the current fiscal year.
Manulife Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, March 19th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, February 25th. Manulife Financial's dividend payout ratio is presently 57.33%.
Analysts Set New Price Targets
A number of brokerages have recently commented on MFC. Desjardins set a C$55.00 price objective on Manulife Financial and gave the company a "buy" rating in a report on Thursday, December 18th. Royal Bank Of Canada lifted their price target on shares of Manulife Financial from C$52.00 to C$55.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. Barclays upped their price objective on shares of Manulife Financial from C$49.00 to C$52.00 in a report on Friday, January 9th. Scotiabank boosted their target price on shares of Manulife Financial from C$55.00 to C$56.00 and gave the stock an "outperform" rating in a research report on Friday, February 13th. Finally, Jefferies Financial Group upped their price target on shares of Manulife Financial from C$54.00 to C$58.00 in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of C$55.63.
View Our Latest Research Report on MFC
About Manulife Financial
(
Get Free Report)
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.
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