Manulife Financial Co. (TSE:MFC) Director Sells C$46,091.79 in Stock

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC Director Ka Ming (Kenneth) Dai sold 1,073 shares of Manulife Financial stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of C$42.96, for a total value of C$46,091.79.

Ka Ming (Kenneth) Dai also recently made the following trade(s):

• On Friday, May 16th, Ka Ming (Kenneth) Dai sold 1,067 shares of Manulife Financial stock. The shares were sold at an average price of C$44.80, for a total value of C$47,801.60.
• On Thursday, May 15th, Ka Ming (Kenneth) Dai sold 1,070 shares of Manulife Financial stock. The shares were sold at an average price of C$44.51, for a total value of C$47,626.77.
• On Wednesday, May 14th, Ka Ming (Kenneth) Dai sold 1,073 shares of Manulife Financial stock. The stock was sold at an average price of C$44.30, for a total value of C$47,536.05.

Manulife Financial Price Performance

Shares of Manulife Financial stock traded down C$0.17 during trading on Friday, hitting C$42.77. The company's stock had a trading volume of 3,997,120 shares, compared to its average volume of 7,630,161. Manulife Financial Co. has a 52 week low of C$32.87 and a 52 week high of C$46.42. The stock has a market cap of C$75.02 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The stock has a 50-day moving average price of C$42.43 and a two-hundred day moving average price of C$43.32.

Manulife Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 19th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $1.76 dividend on an annualized basis and a yield of 4.12%. Manulife Financial's dividend payout ratio (DPR) is currently 49.79%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Jefferies Financial Group reduced their price target on Manulife Financial from C$51.00 to C$46.00 in a report on Monday, April 21st. TD Securities boosted their price objective on shares of Manulife Financial from C$48.00 to C$49.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Barclays lowered their price objective on shares of Manulife Financial from C$49.00 to C$45.00 in a research report on Friday, April 11th. CIBC lowered their price target on shares of Manulife Financial from C$48.00 to C$46.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, Scotiabank lowered their price target on shares of Manulife Financial from C$53.00 to C$50.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of C$48.00.

Manulife Financial Company Profile

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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