Manulife Financial (TSE:MFC) Insider Rahul Madhav Joshi Sells 35,000 Shares

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) insider Rahul Madhav Joshi sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of C$53.23, for a total transaction of C$1,863,050.00. Following the sale, the insider directly owned 77,185 shares of the company’s stock, valued at approximately C$4,108,557.55. This trade represents a 31.20% decrease in their position.

Rahul Madhav Joshi also recently made the following trade(s):

• 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 transaction of C$2,688,000.00.

Manulife Financial Trading Up 0.9%

TSE MFC traded up C$0.46 on Thursday, hitting C$53.49. 2,215,032 shares of the company were exchanged, compared to its average volume of 6,411,491. The company has a market cap of C$89.27 billion, a PE ratio of 15.41, a PEG ratio of 1.01 and a beta of 0.74. The stock has a fifty day moving average of C$51.79 and a 200-day moving average of C$50.28. Manulife Financial Co. has a 12 month low of C$41.08 and a 12 month high of C$55.34.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data 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 for the quarter. Manulife Financial had a net margin of 11.97% and a return on equity of 12.65%. On average, analysts expect that Manulife Financial Co. will post 3.6104452 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MFC. Desjardins set a C$58.00 price objective on Manulife Financial and gave the company a “buy” rating in a research note on Friday, April 17th. National Bank Financial increased their target price on Manulife Financial from C$56.00 to C$59.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Scotiabank lifted their price target on shares of Manulife Financial from C$55.00 to C$56.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. TD Securities decreased their price target on shares of Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Finally, Royal Bank Of Canada raised their price objective 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. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Manulife Financial currently 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.