Manulife Financial (TSE:MFC) Director Kenneth Michael Ross Sells 711 Shares

Key Points

• Director Kenneth Michael Ross of Manulife Financial sold 711 shares at an average price of C$30.39, reducing his ownership by 34.84% to 1,330 shares.
• Manulife Financial declared a quarterly dividend of $0.44, resulting in an annualized dividend of $1.76 with a dividend yield of 4.0%.
• Analysts have mixed views on Manulife's stock, with Barclays raising the price target to C$47.00 while National Bankshares and Royal Bank of Canada lowered their targets to C$47.00 and C$49.00, respectively.

Manulife Financial Co. (TSE:MFC - Get Free Report) NYSE: MFC Director Kenneth Michael Ross sold 711 shares of Manulife Financial stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of C$30.39, for a total value of C$21,607.29. Following the sale, the director directly owned 1,330 shares in the company, valued at approximately C$40,418.70. The trade was a 34.84% decrease in their ownership of the stock.

Kenneth Michael Ross also recently made the following trade(s):

• On Tuesday, August 19th, Kenneth Michael Ross sold 446 shares of Manulife Financial stock. The shares were sold at an average price of C$41.94, for a total value of C$18,706.53.

Manulife Financial Stock Up 0.4%

Shares of MFC opened at C$44.14 on Friday. The business's 50 day moving average price is C$42.22 and its 200-day moving average price is C$42.56. Manulife Financial Co. has a 52 week low of C$36.93 and a 52 week high of C$46.42. The stock has a market cap of C$74.97 billion, a P/E ratio of 14.24, a P/E/G ratio of 1.01 and a beta of 0.98.

Manulife Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 19th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, August 20th. Manulife Financial's payout ratio is currently 54.19%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Barclays boosted their price target on Manulife Financial from C$46.00 to C$47.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. National Bankshares dropped their price target on Manulife Financial from C$48.00 to C$47.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada dropped their price target on Manulife Financial from C$51.00 to C$49.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$47.75.

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.

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