Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC insider Paul Lorentz sold 178,425 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of C$41.90, for a total value of C$7,476,007.50. Following the completion of the sale, the insider directly owned 79,930 shares of the company's stock, valued at C$3,349,067. The trade was a 69.06% decrease in their ownership of the stock.
Manulife Financial Trading Up 0.4%
Manulife Financial stock traded up C$0.18 during midday trading on Friday, reaching C$44.14. The stock had a trading volume of 1,987,734 shares, compared to its average volume of 7,554,488. The company has a market capitalization of C$74.97 billion, a P/E ratio of 14.24, a PEG ratio of 1.01 and a beta of 0.98. Manulife Financial Co. has a 12 month low of C$36.93 and a 12 month high of C$46.42. The company has a fifty day moving average price of C$42.22 and a two-hundred day moving average price of C$42.56.
Manulife Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 19th will be paid a dividend of $0.44 per share. The ex-dividend date is Wednesday, August 20th. This represents a $1.76 dividend on an annualized basis and a yield of 4.0%. Manulife Financial's payout ratio is 54.19%.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on MFC. Barclays boosted their target price on Manulife Financial from C$46.00 to C$47.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Royal Bank Of Canada lowered their target price on shares of Manulife Financial from C$51.00 to C$49.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Finally, National Bankshares decreased their price target on shares of Manulife Financial from C$48.00 to C$47.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of C$47.75.
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About Manulife Financial
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Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada's Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.
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