Key Points
- Insider sale: Manulife Financial director Eileen Cloherty sold 6,500 shares on May 27 at an average price of C$53.45, totaling about C$347,425. After the sale, she still held 3,412 shares, a 65.58% reduction in her stake.
- Stock and valuation snapshot: The shares were down 0.9% and opened at C$52.25, trading above both the 50-day and 200-day moving averages. Manulife’s market cap is about C$87.2 billion, with a P/E ratio of 15.06 and a beta of 0.74.
- Analyst sentiment remains positive: Recent analyst updates mostly kept or raised buy ratings, and the consensus view is Buy with a target price of C$57.00. The company also reported C$1.06 EPS in its latest quarter, with revenue of C$2.15 billion.
Manulife Financial Co. (TSE:MFC - Get Free Report) (NYSE:MFC) Director Eileen Cloherty sold 6,500 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of C$53.45, for a total transaction of C$347,425.00. Following the sale, the director directly owned 3,412 shares of the company's stock, valued at approximately C$182,371.40. This trade represents a 65.58% decrease in their ownership of the stock.
Manulife Financial Trading Down 0.9%
Shares of Manulife Financial stock opened at C$52.25 on Tuesday. The company has a fifty day moving average price of C$51.54 and a 200 day moving average price of C$50.21. Manulife Financial Co. has a twelve month low of C$41.08 and a twelve month high of C$55.34. The stock has a market cap of C$87.20 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 1.01 and a beta of 0.74.
Manulife Financial (TSE:MFC - Get Free Report) (NYSE:MFC) last announced 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 net margin of 11.97% and a return on equity of 12.65%. The firm had revenue of C$2.15 billion during the quarter. Analysts forecast that Manulife Financial Co. will post 3.6104452 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Manulife Financial from C$54.00 to C$58.00 in a research report on Monday, February 2nd. TD Securities decreased their price target on shares of Manulife Financial from C$60.00 to C$59.00 and set a "buy" rating for the company in a research report on Thursday, February 12th. National Bank Financial upped their price target on shares of 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. TD decreased their price target on shares of Manulife Financial from C$59.00 to C$58.00 and set a "buy" rating for the company in a research report on Thursday, May 14th. Finally, Desjardins set a C$58.00 price objective on shares of Manulife Financial and gave the company a "buy" rating in a research report on Friday, April 17th. One investment 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 stock. Based on data from MarketBeat.com, Manulife Financial presently has a consensus rating of "Buy" and a consensus target price of C$57.00.
View Our Latest Stock Report on MFC
Manulife Financial Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
