Key Points
- Insider sale: Shamus Edward Weiland sold 88,500 Manulife shares on Nov. 26 at an average of C$48.95 for about C$4.332 million, trimming his holding by 62.33% to 53,495 shares (≈C$2.62M).
- Analyst sentiment has firmed—TD, Desjardins and RBC raised targets (to C$57, C$55 and C$52 respectively) and UBS upgraded to "strong-buy," leaving a MarketBeat consensus of Moderate Buy with an average target of C$51.25.
- Company fundamentals: Manulife opened at C$49.92, has a market cap of C$83.93 billion and a P/E of 16.0, and recently reported quarterly EPS of C$1.16 on C$26.23 billion of revenue.
Manulife Financial Co. (TSE:MFC - Get Free Report) (NYSE:MFC) insider Shamus Edward Weiland sold 88,500 shares of the firm's stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of C$48.95, for a total transaction of C$4,332,075.00. Following the completion of the sale, the insider directly owned 53,495 shares in the company, valued at approximately C$2,618,580.25. This trade represents a 62.33% decrease in their position.
Manulife Financial Trading Up 0.1%
Manulife Financial stock opened at C$49.92 on Friday. The firm has a market cap of C$83.93 billion, a P/E ratio of 16.00, a P/E/G ratio of 1.01 and a beta of 0.94. Manulife Financial Co. has a 1-year low of C$36.93 and a 1-year high of C$50.29. The firm has a 50-day moving average of C$47.40 and a 200-day moving average of C$44.41.
Manulife Financial (TSE:MFC - Get Free Report) (NYSE:MFC) last released its quarterly earnings results on Wednesday, November 12th. The financial services provider reported C$1.16 EPS for the quarter. Manulife Financial had a return on equity of 11.75% and a net margin of 12.52%.The business had revenue of C$26.23 billion during the quarter. Research analysts forecast that Manulife Financial Co. will post 3.6104452 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have issued reports on MFC shares. TD Securities boosted their price objective on shares of Manulife Financial from C$54.00 to C$57.00 in a research report on Thursday, November 13th. Desjardins set a C$55.00 price target on shares of Manulife Financial and gave the stock a "buy" rating in a research note on Thursday. Royal Bank Of Canada upped their target price on Manulife Financial from C$49.00 to C$52.00 in a report on Friday, November 14th. UBS Group upgraded Manulife Financial to a "strong-buy" rating in a research note on Thursday, October 16th. Finally, CIBC upped their price target on Manulife Financial from C$49.00 to C$50.00 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 given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$51.25.
Check Out Our Latest Analysis on MFC
Manulife Financial Company Profile
(
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.
Further Reading
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