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 transaction 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 C$4,108,557.55. The trade was 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 shares were sold at an average price of C$53.76, for a total transaction of C$2,688,000.00.

Manulife Financial Stock Up 0.9%

MFC traded up C$0.46 on Thursday, hitting C$53.49. The company’s stock had a trading volume of 2,215,032 shares, compared to its average volume of 6,411,491. Manulife Financial Co. has a 12 month low of C$41.08 and a 12 month high of C$55.34. The firm has a market cap of C$89.27 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 1.01 and a beta of 0.74. The company’s 50 day simple moving average is C$51.79 and its 200-day simple moving average is C$50.28.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its earnings results on Wednesday, May 13th. The financial services provider reported C$1.06 earnings per share (EPS) for the quarter. The business 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%. Equities analysts predict that Manulife Financial Co. will post 3.6104452 earnings per share for the current fiscal year.

Analyst Ratings Changes

MFC has been the topic of a number of recent analyst reports. National Bank Financial increased their price objective on Manulife Financial from C$56.00 to C$59.00 and gave the stock an “outperform” rating in a research report 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. TD reduced their price objective on Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Desjardins set a C$58.00 price objective on Manulife Financial and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, TD Securities dropped their target price on Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating for the company in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$57.00.

About Manulife Financial

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.