Manulife Financial Co. (TSE:MFC) (NYSE:MFC) insider Warren A. Thomson sold 11,300 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of C$26.71, for a total transaction of C$301,823.00.
Shares of Manulife Financial Co. (MFC) traded down C$0.01 during mid-day trading on Friday, hitting C$26.86. The company had a trading volume of 1,913,644 shares, compared to its average volume of 3,953,533. Manulife Financial Co. has a 1-year low of C$22.39 and a 1-year high of C$27.54.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 21st will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.05%. The ex-dividend date is Monday, November 20th. Manulife Financial’s dividend payout ratio is currently 43.96%.
A number of research firms have issued reports on MFC. Barclays lifted their target price on Manulife Financial from C$29.00 to C$30.00 in a report on Monday, November 13th. National Bank Financial increased their price target on Manulife Financial from C$26.00 to C$27.00 and gave the company a “sector perform” rating in a research report on Thursday, August 10th. Scotiabank increased their price target on Manulife Financial from C$31.00 to C$32.00 and gave the company an “outperform” rating in a research report on Friday, November 10th. CSFB increased their price target on Manulife Financial from C$28.00 to C$31.00 in a research report on Wednesday, November 1st. Finally, Desjardins raised their price objective on Manulife Financial from C$28.00 to C$30.00 in a research report on Monday, November 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of C$28.83.
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About Manulife Financial
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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