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

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) insider Rahul Madhav Joshi sold 35,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of C$53.23, for a total value 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 value of C$2,688,000.00.

Manulife Financial Price Performance

Shares of TSE MFC opened at C$53.50 on Friday. Manulife Financial Co. has a 1-year low of C$41.08 and a 1-year high of C$55.34. The business has a 50-day moving average of C$51.91 and a 200-day moving average of C$50.32. The company has a market capitalization of C$89.29 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.01 and a beta of 0.74.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on MFC shares. Scotiabank raised their target price on 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. Royal Bank Of Canada raised their price objective on Manulife Financial from C$52.00 to C$55.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Desjardins set a C$58.00 target price on Manulife Financial and gave the stock a “buy” rating in a report on Friday, April 17th. National Bank Financial raised 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. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Manulife Financial has an average rating of “Buy” and a consensus price target of C$57.00.

Manulife Financial Company Profile

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.