Key Points
- Insider sale: Manulife insider Rahim Hirji sold 25,048 shares on Nov. 21 at C$48.25 for C$1,208,566, reducing his stake by 44.44% to 31,315 shares (~C$1.51M).
- Analyst/market context: Shares are trading near a 12‑month high (opened C$49.28; high C$49.82), the company has a C$83.04B market cap, and the consensus rating is "Moderate Buy" with an average target of C$50.88 after multiple price-target upgrades.
- Recent results: Manulife reported Q3 EPS of C$1.16 on C$18.03B revenue, with a 12.52% net margin and 11.75% ROE, and analysts forecast about C$3.61 EPS for the current year.
Manulife Financial Co. (TSE:MFC - Get Free Report) (NYSE:MFC) insider Rahim Hirji sold 25,048 shares of the business's stock in a transaction dated 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 transaction, the insider directly owned 31,315 shares in the company, valued at approximately C$1,510,948.75. The trade was a 44.44% decrease in their position.
Manulife Financial Trading Up 1.3%
Manulife Financial stock opened at C$49.28 on Tuesday. The company has a 50-day moving average price of C$45.35 and a 200 day moving average price of C$43.69. Manulife Financial Co. has a 12-month low of C$36.93 and a 12-month high of C$49.82. The stock has a market cap of C$83.04 billion, a P/E ratio of 15.79, a PEG ratio of 1.01 and a beta of 0.94.
Manulife Financial (TSE:MFC - Get Free Report) (NYSE:MFC) last posted its quarterly earnings results on Wednesday, November 12th. The financial services provider reported C$1.16 earnings per share 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%. As a group, analysts forecast that Manulife Financial Co. will post 3.6104452 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on MFC shares. National Bankshares lifted their target price on Manulife Financial from C$47.00 to C$52.00 and gave the company an "outperform" rating in a research report on Monday, October 20th. Royal Bank Of Canada boosted their price objective on shares of Manulife Financial from C$49.00 to C$52.00 in a report on Friday, November 14th. Barclays upped their target price 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. TD Securities lifted their price target on shares of Manulife Financial from C$54.00 to C$57.00 in a research report on Thursday, November 13th. Finally, UBS Group raised shares of Manulife Financial to a "strong-buy" rating in a research note on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$50.88.
Check Out Our Latest Stock Report on Manulife Financial
About Manulife Financial
(
Get Free Report)
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.
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