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 the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of C$42.96, for a total transaction of C$46,091.79.

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

• On Thursday, May 22nd, Ka Ming (Kenneth) Dai sold 231 shares of Manulife Financial stock. The stock was sold at an average price of C$42.91, for a total value of C$9,912.21.
• On Friday, May 16th, Ka Ming (Kenneth) Dai sold 1,067 shares of Manulife Financial stock. The stock was sold at an average price of C$44.80, for a total transaction of C$47,801.60.
• On Thursday, May 15th, Ka Ming (Kenneth) Dai sold 1,070 shares of Manulife Financial stock. The stock was sold at an average price of C$44.51, for a total transaction 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 transaction of C$47,536.05.

Manulife Financial Trading Down 0.7%

MFC stock traded down C$0.31 during midday trading on Wednesday, hitting C$43.61. 11,770,908 shares of the company's stock were exchanged, compared to its average volume of 7,803,270. The firm has a 50 day moving average price of C$42.42 and a 200-day moving average price of C$43.33. The stock has a market capitalization of C$76.49 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. Manulife Financial Co. has a 12-month low of C$32.87 and a 12-month high of C$46.42.

Manulife Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 19th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Wednesday, May 21st. Manulife Financial's payout ratio is currently 49.79%.

Analysts Set New Price Targets

MFC has been the topic of several research reports. TD Securities increased their target price on Manulife Financial from C$48.00 to C$49.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. CIBC cut their price target on shares of Manulife Financial from C$48.00 to C$46.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Jefferies Financial Group cut their price target on shares of Manulife Financial from C$51.00 to C$46.00 in a report on Monday, April 21st. Scotiabank cut their target price on shares of Manulife Financial from C$53.00 to C$50.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Barclays dropped their target price on Manulife Financial from C$49.00 to C$45.00 in a report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$48.00.

About Manulife Financial

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.