Insider Selling: Manulife Financial (TSE:MFC) Insider Sells 88,500 Shares of Stock

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 stock was sold at an average price of C$48.95, for a total transaction of C$4,332,075.00. Following the completion of the sale, the insider owned 53,495 shares of the company’s stock, valued at approximately C$2,618,580.25. This trade represents a 62.33% decrease in their position.

Manulife Financial Price Performance

MFC traded up C$0.05 during trading on Friday, hitting C$49.92. The company had a trading volume of 8,654,586 shares, compared to its average volume of 7,143,117. Manulife Financial Co. has a 1-year low of C$36.93 and a 1-year high of C$50.29. The company has a market cap of C$83.93 billion, a PE ratio of 16.00, a P/E/G ratio of 1.01 and a beta of 0.94. The business has a 50-day moving average of C$47.40 and a 200-day moving average of C$44.40.

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

Analyst Ratings Changes

Several research firms have weighed in on MFC. CIBC boosted their target price on shares of Manulife Financial from C$49.00 to C$50.00 in a research note on Friday, November 14th. National Bankshares increased their price objective on shares of Manulife Financial from C$47.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Royal Bank Of Canada raised their target price on shares of Manulife Financial from C$49.00 to C$52.00 in a report on Friday, November 14th. Desjardins set a C$55.00 price target on Manulife Financial and gave the stock a “buy” rating in a research report on Thursday. Finally, TD Securities raised their price target on Manulife Financial from C$54.00 to C$57.00 in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Manulife Financial currently has an average rating of “Moderate Buy” and a consensus price target of C$51.25.

About Manulife Financial

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.