Manulife Financial (TSE:MFC) Director Purchases C$124,075.44 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Anthony Alex Silva purchased 2,334 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were purchased at an average price of C$53.16 per share, for a total transaction of C$124,075.44. Following the purchase, the director owned 8,175 shares of the company’s stock, valued at approximately C$434,583. This trade represents a 39.96% increase in their position.

Anthony Alex Silva also recently made the following trade(s):

• On Thursday, May 21st, Anthony Alex Silva sold 1,100 shares of Manulife Financial stock. The stock was sold at an average price of C$53.17, for a total transaction of C$58,487.00.
• On Thursday, May 21st, Anthony Alex Silva sold 1,234 shares of Manulife Financial stock. The stock was sold at an average price of C$53.15, for a total transaction of C$65,587.10.

Manulife Financial Price Performance

TSE MFC traded down C$0.47 during trading on Friday, reaching C$53.33. 4,393,100 shares of the company’s stock traded hands, compared to its average volume of 6,119,412. Manulife Financial Co. has a 12-month low of C$41.08 and a 12-month high of C$55.34. The firm has a market cap of C$89.00 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 1.01 and a beta of 0.74. The company’s 50 day simple moving average is C$50.61 and its two-hundred day simple moving average is C$49.90.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings results 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 during the quarter. Research analysts expect that Manulife Financial Co. will post 3.6104452 earnings per share for the current fiscal year.

Manulife Financial Announces Dividend

The business also recently announced 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 of this dividend was Wednesday, February 25th. Manulife Financial’s dividend payout ratio (DPR) is 57.33%.

Analyst Ratings Changes

Several research firms have recently commented on MFC. Jefferies Financial Group boosted their price target on Manulife Financial from C$54.00 to C$58.00 in a research report on Monday, February 2nd. Royal Bank Of Canada raised their price objective on Manulife Financial from C$52.00 to C$55.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Desjardins set a C$58.00 target price on shares of Manulife Financial and gave the stock a “buy” rating in a report on Friday, April 17th. TD decreased their price target on shares of Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Finally, Scotiabank raised 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. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Manulife Financial has an average rating of “Buy” and an average price target of C$57.00.

About Manulife Financial

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.