Insider Selling: Manulife Financial (TSE:MFC) Insider Sells C$1,357,250.00 in Stock

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

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 value 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 value of C$2,688,000.00.

Manulife Financial Stock Up 1.2%

TSE MFC opened at C$54.77 on Thursday. Manulife Financial Co. has a 52 week low of C$41.08 and a 52 week high of C$55.34. The business’s fifty day simple moving average is C$52.47 and its 200-day simple moving average is C$50.51. The firm has a market cap of C$91.41 billion, a PE ratio of 15.78, a P/E/G ratio of 1.01 and a beta of 0.73.

Manulife Financial (TSE:MFCGet Free Report) (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 for the quarter. Manulife Financial had a net margin of 11.97% and a return on equity of 12.65%. Research analysts expect that Manulife Financial Co. will post 3.6104452 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. 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. National Bank Financial boosted their price objective on 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. Royal Bank Of Canada upped their price target on Manulife Financial from C$52.00 to C$55.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. TD Securities cut their price target on 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. Finally, 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 research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$57.00.

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About Manulife Financial

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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.

Further Reading

Insider Buying and Selling by Quarter for Manulife Financial (TSE:MFC)

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