Manulife Financial (TSE:MFC) Insider Sells C$1,208,566.00 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) insider Rahim Hirji sold 25,048 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of C$48.25, for a total transaction of C$1,208,566.00. Following the completion of the transaction, the insider directly owned 31,315 shares of the company’s stock, valued at approximately C$1,510,948.75. This trade represents a 44.44% decrease in their ownership of the stock.

Manulife Financial Stock Down 2.0%

Manulife Financial stock opened at C$48.81 on Thursday. Manulife Financial Co. has a 52-week low of C$36.93 and a 52-week high of C$49.85. The firm’s fifty day moving average is C$45.60 and its 200 day moving average is C$43.78. The company has a market cap of C$82.24 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.01 and a beta of 0.94.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings data on Wednesday, November 12th. The financial services provider reported C$1.16 EPS for the quarter. The business had revenue of C$18.03 billion during the quarter. Manulife Financial had a net margin of 12.52% and a return on equity of 11.75%. On average, equities research analysts anticipate that Manulife Financial Co. will post 3.6104452 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on MFC. CIBC raised their price objective on Manulife Financial from C$49.00 to C$50.00 in a research note on Friday, November 14th. UBS Group upgraded Manulife Financial to a “strong-buy” rating in a report on Thursday, October 16th. National Bankshares raised their price target on Manulife Financial from C$47.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Barclays boosted their price objective on shares of Manulife Financial from C$47.00 to C$48.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada increased their target price on shares of Manulife Financial from C$49.00 to C$52.00 in a research note on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$50.88.

About Manulife Financial

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada’s Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.