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

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) insider Rahul Madhav Joshi sold 35,000 shares of the company’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 transaction, the insider owned 77,185 shares in the company, valued at C$4,108,557.55. The trade was a 31.20% decrease in their ownership of the stock.

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 stock was 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%

Shares of MFC stock opened at C$54.00 on Friday. Manulife Financial Co. has a 1 year low of C$41.08 and a 1 year high of C$55.34. The firm’s 50 day moving average is C$52.04 and its 200-day moving average is C$50.34. The firm has a market capitalization of C$90.12 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.01 and a beta of 0.73.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its 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 net margin of 11.97% and a return on equity of 12.65%. The company had revenue of C$2.15 billion for the quarter. On average, equities research analysts forecast that Manulife Financial Co. will post 3.6104452 earnings per share for the current fiscal year.

Analyst Ratings Changes

MFC has been the topic of a number of research reports. Desjardins set a C$58.00 target price on shares of Manulife Financial and gave the stock a “buy” rating in a research report on Friday, April 17th. Royal Bank Of Canada upped their target price on shares of Manulife Financial from C$52.00 to C$55.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. TD cut their price objective on shares of 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. National Bank Financial increased their price objective on shares of Manulife Financial from C$56.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Finally, TD Securities cut their price objective on shares of 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. One investment 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.com, the company currently has an average 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.