Manulife Financial (TSE:MFC) Director Eileen Cloherty Sells 6,500 Shares

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Eileen Cloherty sold 6,500 shares of Manulife Financial stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of C$53.45, for a total value of C$347,425.00. Following the transaction, the director owned 3,412 shares of the company’s stock, valued at C$182,371.40. This represents a 65.58% decrease in their ownership of the stock.

Manulife Financial Price Performance

Shares of Manulife Financial stock opened at C$52.25 on Tuesday. Manulife Financial Co. has a 1 year low of C$41.08 and a 1 year high of C$55.34. The company has a market capitalization of C$87.20 billion, a P/E ratio of 15.06, a P/E/G ratio of 1.01 and a beta of 0.74. The business has a 50 day moving average price of C$51.54 and a 200 day moving average price of C$50.21.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Royal Bank Of Canada boosted their price target on Manulife Financial from C$52.00 to C$55.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Scotiabank boosted their price target on Manulife Financial from C$55.00 to C$56.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Desjardins set a C$58.00 price target on Manulife Financial and gave the company a “buy” rating in a report on Friday, April 17th. TD cut their price target on Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Finally, Jefferies Financial Group boosted their price target on Manulife Financial from C$54.00 to C$58.00 in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Manulife Financial has an average 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.