Manulife Financial (TSE:MFC) Insider Sells C$1,863,050.00 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) insider Rahul Madhav Joshi sold 35,000 shares of Manulife Financial stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of C$53.23, for a total value of C$1,863,050.00. Following the completion of the transaction, the insider owned 77,185 shares of the company’s stock, valued at approximately C$4,108,557.55. This represents a 31.20% decrease in their position.

Rahul Madhav Joshi also recently made the following trade(s):

• On Friday, May 22nd, Rahul Madhav Joshi sold 50,000 shares of Manulife Financial stock. The stock was sold at an average price of C$53.76, for a total value of C$2,688,000.00.

Manulife Financial Price Performance

Shares of TSE:MFC opened at C$54.00 on Friday. Manulife Financial Co. has a 1 year low of C$41.08 and a 1 year high of C$55.34. The business has a 50 day simple moving average of C$52.04 and a two-hundred day simple moving average of C$50.34. The firm has a market capitalization of C$90.12 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.01 and a beta of 0.73.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its earnings results on Wednesday, May 13th. The financial services provider reported C$1.06 earnings per share (EPS) for the quarter. Manulife Financial had a return on equity of 12.65% and a net margin of 11.97%.The business had revenue of C$2.15 billion during the quarter. Equities research analysts expect that Manulife Financial Co. will post 3.6104452 EPS for the current fiscal year.

Analysts Set New Price Targets

MFC has been the subject of several recent analyst reports. Scotiabank boosted their target price on Manulife Financial from C$55.00 to C$56.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Desjardins set a C$58.00 target price on Manulife Financial and gave the company a “buy” rating in a research report on Friday, April 17th. National Bank Financial lifted their price target on shares of Manulife Financial from C$56.00 to C$59.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. 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 note on Thursday, May 14th. Finally, TD Securities decreased their price target on shares of Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$57.00.

Manulife Financial Company Profile

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.