Rep. Josh Gottheimer Sells Manulife Financial Co. (NYSE:MFC) Stock

Representative Josh Gottheimer (D-New Jersey) recently sold shares of Manulife Financial Co. (NYSE:MFC). In a filing disclosed on November 06th, the Representative disclosed that they had sold between $1,001 and $15,000 in Manulife Financial stock on October 4th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Texas Capital Bancshares (NASDAQ:TCBI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ITT (NYSE:ITT) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.

Manulife Financial Stock Up 3.2 %

MFC opened at $32.29 on Friday. The business has a 50 day moving average of $29.21 and a 200-day moving average of $26.96. The stock has a market cap of $56.80 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 1.08 and a beta of 1.08. Manulife Financial Co. has a 12-month low of $18.05 and a 12-month high of $32.94.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.27. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. The firm had revenue of $9.41 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same period in the prior year, the company earned $0.62 earnings per share. As a group, analysts expect that Manulife Financial Co. will post 2.74 earnings per share for the current year.

Hedge Funds Weigh In On Manulife Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norden Group LLC purchased a new position in shares of Manulife Financial during the 1st quarter worth $620,000. Private Advisor Group LLC lifted its stake in Manulife Financial by 295.4% in the first quarter. Private Advisor Group LLC now owns 60,860 shares of the financial services provider’s stock worth $1,521,000 after acquiring an additional 45,469 shares during the period. BNP Paribas Financial Markets grew its stake in Manulife Financial by 7,887.4% in the first quarter. BNP Paribas Financial Markets now owns 34,346 shares of the financial services provider’s stock valued at $858,000 after purchasing an additional 33,916 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Manulife Financial by 38.9% during the first quarter. Janney Montgomery Scott LLC now owns 123,344 shares of the financial services provider’s stock valued at $3,082,000 after acquiring an additional 34,545 shares during the last quarter. Finally, Mediolanum International Funds Ltd acquired a new stake in Manulife Financial in the first quarter worth about $2,275,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

Wall Street Analyst Weigh In

MFC has been the topic of a number of analyst reports. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays assumed coverage on Manulife Financial in a report on Thursday, September 5th. They issued an “equal weight” rating on the stock. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Manulife Financial has an average rating of “Buy” and a consensus target price of $35.67.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.