Insider Selling: Manulife Financial (TSE:MFC) Director Sells C$347,425.00 in Stock

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) Director Eileen Cloherty sold 6,500 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of C$53.45, for a total value of C$347,425.00. Following the sale, the director directly owned 3,412 shares of the company’s stock, valued at approximately C$182,371.40. This trade represents a 65.58% decrease in their position.

Manulife Financial Trading Down 0.3%

MFC stock opened at C$53.03 on Thursday. The stock has a 50-day moving average price of C$51.79 and a two-hundred day moving average price 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. The company has a market cap of C$88.50 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.01 and a beta of 0.74.

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. Manulife Financial had a return on equity of 12.65% and a net margin of 11.97%.The firm had revenue of C$2.15 billion during the quarter. Equities analysts forecast that Manulife Financial Co. will post 3.6104452 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MFC shares. Royal Bank Of Canada boosted their price target on Manulife Financial from C$52.00 to C$55.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. National Bank Financial upped their target price on Manulife Financial from C$56.00 to C$59.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. TD Securities decreased their target price on Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Scotiabank upped their target price on Manulife Financial from C$55.00 to C$56.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Finally, TD decreased their target price on Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Manulife Financial currently has a consensus rating of “Buy” and a consensus 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.