Manulife (TSE:MFC) (NYSE:MFC) Director Brian Collins sold 2,937 shares of the stock in a transaction dated Monday, May 14th. The shares were sold at an average price of C$24.77, for a total value of C$72,749.49.
MFC stock traded up C$0.20 during trading on Monday, hitting C$24.80. 3,316,992 shares of the company traded hands, compared to its average volume of 3,839,144. Manulife has a 1 year low of C$22.62 and a 1 year high of C$27.77.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 19th. Investors of record on Tuesday, May 15th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.55%. The ex-dividend date is Monday, May 14th.
Several equities research analysts recently weighed in on MFC shares. National Bank Financial upgraded Manulife from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$30.00 to C$31.00 in a report on Wednesday, January 24th. TD Securities upgraded Manulife from a “hold” rating to a “buy” rating and set a C$28.00 target price for the company in a report on Thursday, April 12th. Scotiabank increased their target price on Manulife from C$29.00 to C$30.00 and gave the company an “outperform” rating in a report on Friday, May 4th. CIBC upgraded Manulife from a “neutral” rating to an “outperform” rating and increased their target price for the company from C$28.00 to C$29.00 in a report on Friday, May 4th. Finally, Desjardins dropped their target price on Manulife from C$30.00 to C$28.00 in a report on Thursday, April 12th. Six analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average target price of C$30.00.
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 through insurance agents, brokers, banks, financial planners, and direct marketing.
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