Key Points
- Insider selling: Manulife Financial insider Rahul Madhav Joshi sold 25,000 shares on June 8 at an average price of C$54.29, worth about C$1.36 million. The sale reduced his direct ownership by 24.47%.
- Recent selling trend: Joshi has also sold 35,000 shares on June 2 and 50,000 shares on May 22, indicating a series of insider sales over the past few weeks.
- Stock and analyst backdrop: MFC was trading up 0.5% at C$54.25, near its 12-month high of C$55.34. Analysts remain constructive overall, with a consensus Buy rating and an average price target of C$57.00.
Manulife Financial Co. (TSE:MFC - Get Free Report) (NYSE:MFC) insider Rahul Madhav Joshi sold 25,000 shares of Manulife Financial stock in a transaction dated Monday, June 8th. The stock was sold at an average price of C$54.29, for a total value of C$1,357,250.00. Following the transaction, the insider directly owned 77,185 shares in the company, valued at C$4,190,373.65. The trade was a 24.47% decrease in their ownership of the stock.
Rahul Madhav Joshi also recently made the following trade(s):
- On Tuesday, June 2nd, Rahul Madhav Joshi sold 35,000 shares of Manulife Financial stock. The stock was sold at an average price of C$53.23, for a total value of C$1,863,050.00.
- 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 Trading Up 0.5%
Shares of MFC opened at C$54.25 on Tuesday. The company has a market capitalization of C$90.54 billion, a PE ratio of 15.63, a PEG ratio of 1.01 and a beta of 0.73. Manulife Financial Co. has a 12 month low of C$41.08 and a 12 month high of C$55.34. The stock's 50-day moving average price is C$52.17 and its two-hundred day moving average price is C$50.41.
Manulife Financial (TSE:MFC - Get Free Report) (NYSE:MFC) last announced its earnings results on Wednesday, May 13th. The financial services provider reported C$1.06 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%. Equities research analysts predict that Manulife Financial Co. will post 3.6104452 EPS for the current fiscal year.
Analysts Set New Price Targets
MFC has been the topic of a number of recent analyst reports. Desjardins set a C$58.00 price objective on Manulife Financial and gave the company a "buy" rating in a research note on Friday, April 17th. Royal Bank Of Canada boosted their price objective on Manulife Financial from C$52.00 to C$55.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. National Bank Financial boosted their price objective on Manulife Financial from C$56.00 to C$59.00 and gave the company an "outperform" rating in a research note on Thursday, May 14th. Scotiabank boosted their price objective on Manulife Financial from C$55.00 to C$56.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. Finally, TD dropped their price objective on Manulife Financial from C$59.00 to C$58.00 and set a "buy" rating on the stock in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of C$57.00.
Read Our Latest Research Report on Manulife Financial
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.
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