Manulife Financial (TSE:MFC) Director Sells C$931,860.00 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Aimee Decamillo sold 18,000 shares of Manulife Financial stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of C$51.77, for a total transaction of C$931,860.00. Following the transaction, the director owned 4,996 shares in the company, valued at approximately C$258,642.92. The trade was a 78.27% decrease in their ownership of the stock.

Manulife Financial Stock Performance

TSE MFC opened at C$53.26 on Monday. Manulife Financial Co. has a twelve month low of C$41.08 and a twelve month high of C$55.34. The stock has a market cap of C$88.89 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.01 and a beta of 0.74. The firm’s 50 day moving average price is C$50.76 and its two-hundred day moving average price is C$49.95.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings data on Wednesday, May 13th. The financial services provider reported C$1.06 earnings per share for the quarter. Manulife Financial had a net margin of 11.97% and a return on equity of 12.65%. The firm had revenue of C$2.15 billion for the quarter. On average, research analysts forecast that Manulife Financial Co. will post 3.6104452 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 19th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.6%. The ex-dividend date was Wednesday, February 25th. Manulife Financial’s payout ratio is presently 52.02%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. National Bank Financial lifted their price objective on shares of Manulife Financial from C$56.00 to C$59.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Scotiabank boosted their price target on shares of Manulife Financial from C$55.00 to C$56.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Desjardins set a C$58.00 price target on shares of Manulife Financial and gave the company a “buy” rating in a report on Friday, April 17th. Jefferies Financial Group boosted their price target on shares of Manulife Financial from C$54.00 to C$58.00 in a report on Monday, February 2nd. Finally, TD Securities lowered their price target on shares of Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$57.00.

Manulife Financial Company Profile

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.