Insider Selling: Manulife Financial (TSE:MFC) Insider Sells 25,000 Shares of Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) insider Rahul Madhav Joshi sold 25,000 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of C$54.29, for a total transaction of C$1,357,250.00. Following the completion of the sale, the insider directly owned 77,185 shares of the company’s stock, valued at C$4,190,373.65. This represents a 24.47% decrease in their ownership of the stock.

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

• On Tuesday, June 2nd, Rahul Madhav Joshi sold 35,000 shares of Manulife Financial stock. The stock was sold at an average price of C$53.23, for a total transaction of C$1,863,050.00.
• 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 transaction of C$2,688,000.00.

Manulife Financial Price Performance

Manulife Financial stock traded up C$0.25 during mid-day trading on Monday, hitting C$54.25. The company’s stock had a trading volume of 7,303,977 shares, compared to its average volume of 6,522,975. The stock has a market cap of C$90.54 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.01 and a beta of 0.73. The business has a 50 day moving average price of C$52.17 and a 200-day moving average price of C$50.41. Manulife Financial Co. has a 12 month low of C$41.08 and a 12 month high of C$55.34.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MFC shares. Royal Bank Of Canada upped their price objective on shares of Manulife Financial from C$52.00 to C$55.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. TD lowered their price objective 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. National Bank Financial upped their price objective 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. Scotiabank upped their price objective on shares of Manulife Financial from C$55.00 to C$56.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Finally, Desjardins set a C$58.00 price objective on shares of Manulife Financial and gave the company a “buy” rating in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock 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.