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

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) insider Rahul Madhav Joshi sold 25,000 shares of Manulife Financial stock in a transaction on Monday, June 8th. The shares were sold at an average price of C$54.29, for a total value of C$1,357,250.00. Following the completion of the transaction, the insider owned 77,185 shares in the company, valued at approximately C$4,190,373.65. The trade was a 24.47% decrease in their position.

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 shares were 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 shares were sold at an average price of C$53.76, for a total value of C$2,688,000.00.

Manulife Financial Stock Performance

Shares of MFC opened at C$54.25 on Tuesday. Manulife Financial Co. has a 52-week low of C$41.08 and a 52-week high of C$55.34. The business’s fifty day moving average is C$52.17 and its 200-day moving average is C$50.41. The firm has a market cap of C$90.54 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 1.01 and a beta of 0.73.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. TD Securities cut their price objective on Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Desjardins set a C$58.00 price objective on Manulife Financial and gave the company a “buy” rating in a report on Friday, April 17th. National Bank Financial raised their price objective on Manulife Financial from C$56.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. TD cut their price objective on Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Finally, Scotiabank raised their price objective on Manulife Financial from C$55.00 to C$56.00 and gave the company an “outperform” rating in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price 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.