Manulife Financial Co. (TSE:MFC) Director Sells C$81,116.70 in Stock
On September 5th, Director Tin Ku sold 2,166 shares of Manulife Financial Co. (TSE:MFC) at an average price of C$45, totaling C$116.70. Post-sale, he holds 253 shares valued at C$474.85. The stock dropped 0.7% during trading, and analysts have varying ratings on the stock with a consensus of "Moderate Buy" and an average target price of C$18. A recent quarterly dividend of C$0.40 will be paid on September 19th to stockholders of record on August 21st, representing a 4.32% yield.
Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC Director Tin Ku sold 2,166 shares of the business's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the completion of the transaction, the director now directly owns 253 shares of the company's stock, valued at C$9,474.85.
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Manulife Financial Stock Down 0.7 %
TSE MFC traded down C$0.27 during trading hours on Thursday, hitting C$37.05. 1,310,098 shares of the company traded hands, compared to its average volume of 6,696,492. The stock has a market capitalization of C$65.95 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 12.56 and a beta of 1.06. Manulife Financial Co. has a twelve month low of C$23.69 and a twelve month high of C$37.58. The business's 50-day moving average is C$36.01 and its 200-day moving average is C$34.52. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68.
Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last issued its earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share for the quarter, topping analysts' consensus estimates of C$0.88 by C$0.03. The business had revenue of C$12.88 billion for the quarter, compared to the consensus estimate of C$12.27 billion. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. Sell-side analysts anticipate that Manulife Financial Co. will post 3.6883768 earnings per share for the current year.
Manulife Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend is Wednesday, August 21st. Manulife Financial's dividend payout ratio is presently 68.09%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on MFC shares. National Bankshares boosted their target price on Manulife Financial from C$38.00 to C$43.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 31st. Jefferies Financial Group lowered their price target on shares of Manulife Financial from C$43.00 to C$42.00 in a research report on Thursday, July 18th. Scotiabank lifted their target price on shares of Manulife Financial from C$40.00 to C$41.00 in a report on Friday, August 9th. CIBC increased their price target on Manulife Financial from C$34.00 to C$36.00 in a research note on Friday, May 10th. Finally, Barclays set a C$39.00 price target on Manulife Financial and gave the stock an "equal weight" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Manulife Financial currently has a consensus rating of "Moderate Buy" and an average target price of C$39.18.
Get Our Latest Analysis on Manulife Financial
About Manulife Financial
(Get Free Report)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.
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