Manulife Financial (TSE:MFC) Director Eileen Cloherty Sells 6,500 Shares

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Eileen Cloherty sold 6,500 shares of the firm’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 completion of the transaction, the director directly owned 3,412 shares of the company’s stock, valued at approximately C$182,371.40. This represents a 65.58% decrease in their position.

Manulife Financial Trading Down 1.1%

Shares of TSE MFC traded down C$0.59 during midday trading on Monday, reaching C$52.14. The company had a trading volume of 4,476,594 shares, compared to its average volume of 6,366,253. The business’s 50-day simple moving average is C$51.43 and its 200 day simple moving average is C$50.17. The stock has a market cap of C$87.02 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.01 and a beta of 0.74. Manulife Financial Co. has a 1 year low of C$41.08 and a 1 year high of C$55.34.

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

Analysts Set New Price Targets

MFC has been the topic of a number of research reports. Jefferies Financial Group increased their price objective on shares of Manulife Financial from C$54.00 to C$58.00 in a research note on Monday, February 2nd. National Bank Financial increased their price objective 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. TD Securities cut their price objective 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. TD cut their price objective on shares of 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. Finally, Desjardins set a C$58.00 price objective on shares of Manulife Financial and gave the stock a “buy” rating in a research note 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$57.00.

About Manulife Financial

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.