Key Points
- Manulife insider Rahul Madhav Joshi sold 35,000 shares on Tuesday, June 2, at an average price of C$53.23, totaling about C$1.86 million. After the sale, his holdings fell by 31.2% to 77,185 shares.
- Joshi also sold 50,000 shares on May 22 at an average price of C$53.76, indicating a pattern of recent insider selling in Manulife Financial stock.
- Despite the insider sales, analysts remain broadly positive on the stock, with a consensus “Buy” rating and an average price target of C$57.00. Manulife also recently reported C$1.06 EPS for the quarter, and shares were trading near C$53.50.
Manulife Financial Co. (TSE:MFC - Get Free Report) (NYSE:MFC) insider Rahul Madhav Joshi sold 35,000 shares of the firm's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of C$53.23, for a total value of C$1,863,050.00. Following the completion of the transaction, the insider owned 77,185 shares in the company, valued at C$4,108,557.55. This represents a 31.20% decrease in their ownership of the stock.
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 stock was sold at an average price of C$53.76, for a total value of C$2,688,000.00.
Manulife Financial Price Performance
MFC opened at C$53.50 on Friday. The business's 50-day moving average price is C$51.91 and its two-hundred day moving average price is C$50.32. 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$89.29 billion, a price-to-earnings ratio of 15.42, a P/E/G ratio of 1.01 and a beta of 0.74.
Manulife Financial (TSE:MFC - Get Free Report) (NYSE:MFC) last released its quarterly earnings results on Wednesday, May 13th. The financial services provider reported C$1.06 earnings per share (EPS) for the quarter. The firm had revenue of C$2.15 billion for the quarter. Manulife Financial had a return on equity of 12.65% and a net margin of 11.97%. Sell-side analysts anticipate that Manulife Financial Co. will post 3.6104452 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
MFC has been the subject of a number of analyst reports. Royal Bank Of Canada lifted their price target on shares of Manulife Financial from C$52.00 to C$55.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. Scotiabank boosted 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 report on Friday, February 13th. TD lowered their price objective 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. TD Securities decreased their target price on shares of Manulife Financial from C$60.00 to C$59.00 and set a "buy" rating on the stock in a research note on Thursday, February 12th. Finally, National Bank Financial boosted their target price on shares of Manulife Financial from C$56.00 to C$59.00 and gave the stock an "outperform" rating in a research note on Thursday, May 14th. 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. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of C$57.00.
Read Our Latest Stock Report on MFC
About Manulife Financial
(
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.
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