Rahul Madhav Joshi Sells 25,000 Shares of Manulife Financial (TSE:MFC) Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) insider Rahul Madhav Joshi sold 25,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider owned 77,185 shares of the company’s stock, valued at C$4,190,373.65. This trade represents 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 Price Performance

MFC opened at C$54.14 on Wednesday. The company has a market capitalization of C$90.35 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 1.01 and a beta of 0.73. Manulife Financial Co. has a 1-year low of C$41.08 and a 1-year high of C$55.34. The business has a 50 day moving average price of C$52.31 and a two-hundred day moving average price of C$50.46.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its earnings results on Wednesday, May 13th. The financial services provider reported C$1.06 earnings per share for the quarter. The firm had revenue of C$2.15 billion during the quarter. Manulife Financial had a return on equity of 12.65% and a net margin of 11.97%. Equities analysts expect that Manulife Financial Co. will post 3.6104452 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MFC shares. TD Securities cut their target price on 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. TD cut their target price on shares of Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Royal Bank Of Canada increased their target price on shares of 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. Scotiabank increased their target price on shares of 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, National Bank Financial increased their target price on shares of 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Manulife Financial currently has an average rating of “Buy” and an average target price of C$57.00.

Manulife Financial Company Profile

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.