Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Senior Officer Steve Finch sold 14,256 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of C$23.55, for a total transaction of C$335,764.44. Following the completion of the transaction, the insider now directly owns 6,214 shares in the company, valued at C$146,355.24.
MFC stock traded down C$0.32 during midday trading on Friday, reaching C$23.32. The company’s stock had a trading volume of 2,954,679 shares, compared to its average volume of 5,313,102. The company has a debt-to-equity ratio of 39.39, a quick ratio of 1.88 and a current ratio of 4.96. The stock has a market cap of $46.53 billion and a PE ratio of 8.54. Manulife Financial Co. has a 52 week low of C$18.33 and a 52 week high of C$25.20.
Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results on Wednesday, February 13th. The financial services provider reported C$0.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.66 by C($0.01). The business had revenue of C$8.51 billion for the quarter. As a group, sell-side analysts predict that Manulife Financial Co. will post 3.15000010732539 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Tuesday, May 14th will be issued a $0.25 dividend. The ex-dividend date is Monday, May 13th. This represents a $1.00 annualized dividend and a yield of 4.29%. Manulife Financial’s dividend payout ratio (DPR) is presently 34.36%.
A number of equities analysts have issued reports on MFC shares. TD Securities reduced their price objective on shares of Manulife Financial from C$30.00 to C$29.00 and set a “buy” rating on the stock in a research note on Thursday, February 14th. Eight Capital raised their price objective on shares of Manulife Financial from C$28.00 to C$30.00 in a research note on Friday, May 3rd. Canaccord Genuity raised their price objective on shares of Manulife Financial from C$30.00 to C$31.00 in a research note on Monday, April 29th. National Bank Financial reduced their price objective on shares of Manulife Financial from C$27.00 to C$25.00 and set an “outperform” rating on the stock in a research note on Thursday, January 24th. Finally, Desjardins raised their price objective on shares of Manulife Financial from C$27.00 to C$28.00 in a research note on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of C$28.00.
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About Manulife Financial
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.
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