Insider Selling: Manulife Financial (TSE:MFC) Insider Sells 6,843 Shares of Stock

Key Points

• Insider sale: Manulife insider Patrick David Graham sold 6,843 shares at an average price of C$62.06, for total proceeds of approximately C$424,677.
• Dividend and performance: Shares closed at C$61.39, down 0.6%, while the company declared a quarterly dividend of C$0.485, representing a 3.2% annualized yield.
• Analyst outlook: Analysts maintain a consensus “Buy” rating and a C$66.00 target price, following several firms’ upward revisions to their price targets.

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC insider Patrick David Graham sold 6,843 shares of Manulife Financial stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of C$62.06, for a total value of C$424,676.58.

Manulife Financial Stock Down 0.6%

TSE:MFC traded down C$0.34 during trading hours on Monday, reaching C$61.39. 770,764 shares of the stock were exchanged, compared to its average volume of 6,009,648. Manulife Financial Co. has a twelve month low of C$41.22 and a twelve month high of C$63.58. The company has a debt-to-equity ratio of 26.52, a current ratio of 2.36 and a quick ratio of 2.58. The firm has a 50 day moving average of C$59.23 and a 200 day moving average of C$53.64. The stock has a market cap of C$101.86 billion, a PE ratio of 16.64, a PEG ratio of 1.01 and a beta of 0.71.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported C$1.09 earnings per share (EPS) for the quarter. Manulife Financial had a net margin of 11.62% and a return on equity of 12.98%. The company had revenue of C$20.34 billion for the quarter. On average, equities analysts expect that Manulife Financial Co. will post 3.6104452 earnings per share for the current year.

Manulife Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Monday, September 21st will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, August 21st. Manulife Financial's payout ratio is presently 50.14%.

Analysts Set New Price Targets

A number of research firms have recently commented on MFC. National Bank Financial increased their price objective on shares of Manulife Financial from C$59.00 to C$69.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Desjardins lifted their target price on Manulife Financial from C$63.00 to C$68.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Royal Bank Of Canada increased their price target on Manulife Financial from C$55.00 to C$67.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Scotiabank raised their price target on Manulife Financial from C$56.00 to C$61.00 and gave the company a "sector outperform" rating in a research note on Wednesday, July 15th. Finally, Barclays boosted their price target on Manulife Financial from C$56.00 to C$59.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of C$66.00.

About Manulife Financial

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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