Insider Selling: Manulife Financial Co. (TSE:MFC) Senior Officer Sells C$503,646.63 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Senior Officer Steve Finch sold 11,598 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of C$43.43, for a total value of C$503,646.63.

Manulife Financial Trading Up 1.4 %

Shares of MFC opened at C$45.06 on Monday. The firm has a market cap of C$79.04 billion, a P/E ratio of 14.02, a PEG ratio of 1.01 and a beta of 1.06. The stock’s 50 day moving average is C$43.56 and its two-hundred day moving average is C$41.94. Manulife Financial Co. has a 12 month low of C$31.24 and a 12 month high of C$46.42.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 19th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Wednesday, March 5th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.40. Manulife Financial’s dividend payout ratio (DPR) is 49.79%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. CIBC raised their target price on Manulife Financial from C$47.00 to C$48.00 in a report on Friday, February 21st. TD Securities raised their target price on Manulife Financial from C$48.00 to C$49.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. National Bankshares raised their target price on Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Scotiabank raised their target price on Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. Finally, Cormark raised their price objective on Manulife Financial from C$47.00 to C$48.00 in a report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Manulife Financial has a consensus rating of “Moderate Buy” and an average target price of C$45.60.

About Manulife Financial

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.