Kenneth Michael Ross Sells 3,219 Shares of Manulife Financial Co. (TSE:MFC) Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Kenneth Michael Ross sold 3,219 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of C$44.91, for a total value of C$144,572.68.

Manulife Financial Price Performance

TSE:MFC traded down C$0.25 during mid-day trading on Friday, hitting C$41.78. The company’s stock had a trading volume of 744,938 shares, compared to its average volume of 6,262,781. The business’s fifty day moving average is C$43.48 and its two-hundred day moving average is C$42.15. The stock has a market cap of C$73.28 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.01 and a beta of 1.06. Manulife Financial Co. has a 1 year low of C$31.24 and a 1 year high of C$46.42.

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 19th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.21%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, March 5th. Manulife Financial’s dividend payout ratio (DPR) is 49.79%.

Wall Street Analysts Forecast Growth

MFC has been the topic of a number of research analyst reports. CIBC boosted their price target on Manulife Financial from C$47.00 to C$48.00 in a research note on Friday, February 21st. Jefferies Financial Group boosted their target price on shares of Manulife Financial from C$50.00 to C$51.00 in a research report on Thursday, January 30th. Scotiabank raised their price target on shares of Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. National Bankshares boosted their price objective on shares of Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Finally, Barclays upped their target price on Manulife Financial from C$40.00 to C$47.00 in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Manulife Financial currently has a consensus rating of “Moderate Buy” and a consensus 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.