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

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Eileen Cloherty sold 6,500 shares of Manulife Financial stock in a transaction 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 completion of the transaction, the director owned 3,412 shares in the company, valued at C$182,371.40. The trade was a 65.58% decrease in their ownership of the stock.

Manulife Financial Trading Up 1.8%

Shares of MFC stock opened at C$53.18 on Wednesday. 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$88.75 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 1.01 and a beta of 0.74. The stock’s fifty day simple moving average is C$51.54 and its 200-day simple moving average is C$50.21.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MFC. TD lowered their price target on Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Royal Bank Of Canada lifted 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. National Bank Financial lifted their price target on Manulife Financial from C$56.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. TD Securities lowered their price target on Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, Scotiabank lifted 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price 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.