Manulife Financial Co. (MFC) to Issue Quarterly Dividend of $0.44 on March 19th

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) announced a quarterly dividend on Wednesday, February 19th, RTT News reports. Stockholders of record on Wednesday, March 5th will be paid a dividend of 0.44 per share by the financial services provider on Wednesday, March 19th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.90%. This is a boost from Manulife Financial’s previous quarterly dividend of $0.40.

Manulife Financial Stock Performance

MFC opened at C$45.14 on Friday. The stock has a market capitalization of C$79.18 billion, a PE ratio of 14.05, a P/E/G ratio of 1.01 and a beta of 1.06. Manulife Financial has a one year low of C$31.24 and a one year high of C$46.42. The business’s 50 day moving average price is C$43.53 and its 200 day moving average price is C$41.52.

Insider Activity

In other news, Director Anthony Alex Silva sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of C$45.22, for a total transaction of C$45,218.70. Also, Senior Officer James D. Gallagher sold 57,064 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of C$44.80, for a total value of C$2,556,638.39. In the last three months, insiders have sold 62,307 shares of company stock worth $2,796,173. 0.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. TD Securities raised their price objective on Manulife Financial from C$48.00 to C$49.00 and gave the stock a “buy” rating in a research report on Thursday. Cormark boosted their price target on shares of Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st. Scotiabank increased their price objective on shares of Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. Jefferies Financial Group upped their price target on Manulife Financial from C$50.00 to C$51.00 in a research note on Thursday, January 30th. Finally, National Bankshares increased their target price on Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$45.50.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.