Manulife Financial (TSE:MFC) Insider Shamus Edward Weiland Sells 88,500 Shares

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) insider Shamus Edward Weiland sold 88,500 shares of Manulife Financial stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of C$48.95, for a total value of C$4,332,075.00. Following the sale, the insider directly owned 53,495 shares of the company’s stock, valued at C$2,618,580.25. This represents a 62.33% decrease in their position.

Manulife Financial Stock Up 0.1%

Manulife Financial stock opened at C$49.92 on Friday. The stock has a market cap of C$83.93 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 1.01 and a beta of 0.94. The business has a 50-day simple moving average of C$47.40 and a 200 day simple moving average of C$44.41. Manulife Financial Co. has a 52 week low of C$36.93 and a 52 week high of C$50.29.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings results on Wednesday, November 12th. The financial services provider reported C$1.16 earnings per share (EPS) for the quarter. Manulife Financial had a return on equity of 11.75% and a net margin of 12.52%.The firm had revenue of C$26.23 billion during the quarter. On average, research analysts anticipate that Manulife Financial Co. will post 3.6104452 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank Of Canada boosted their price target on shares of Manulife Financial from C$49.00 to C$52.00 in a research note on Friday, November 14th. CIBC lifted their price objective on shares of Manulife Financial from C$49.00 to C$50.00 in a report on Friday, November 14th. TD Securities increased their target price on Manulife Financial from C$54.00 to C$57.00 in a research note on Thursday, November 13th. UBS Group upgraded Manulife Financial to a “strong-buy” rating in a research report on Thursday, October 16th. Finally, Desjardins set a C$55.00 price objective on Manulife Financial and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Manulife Financial presently has an average rating of “Moderate Buy” and an average price target of C$51.25.

Manulife Financial Company Profile

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada’s Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.