Manulife Financial (TSE:MFC) Price Target Raised to C$65.00 at TD

by · The Markets Daily

Manulife Financial (TSE:MFC – Get Free Report) (NYSE:MFC) had its target price raised by TD from C$58.00 to C$65.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD’s price target would indicate a potential upside of 7.62% from the company’s current price.

Several other analysts have also commented on MFC. National Bank Financial increased their target price on shares of Manulife Financial from C$56.00 to C$59.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Desjardins set a C$58.00 price target on Manulife Financial and gave the company a “buy” rating in a report on Friday, April 17th. Scotiabank increased their price objective on Manulife Financial from C$56.00 to C$61.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 15th. Finally, Canadian Imperial Bank of Commerce raised their price objective on Manulife Financial from C$61.00 to C$69.00 in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Manulife Financial currently has an average rating of “Buy” and an average target price of C$60.89.

View Our Latest Stock Analysis on Manulife Financial

Manulife Financial Stock Up 1.1%

Manulife Financial stock traded up C$0.64 during midday trading on Tuesday, hitting C$60.40. The company’s stock had a trading volume of 741,770 shares, compared to its average volume of 6,063,546. Manulife Financial has a 12 month low of C$41.08 and a 12 month high of C$61.18. The company has a market capitalization of C$100.38 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. The stock’s 50-day moving average price is C$55.94 and its 200-day moving average price is C$52.21.

Manulife Financial (TSE:MFC – Get Free Report) (NYSE:MFC) last posted its quarterly earnings data on Wednesday, May 13th. The financial services provider reported C$1.06 earnings per share for the quarter. The company had revenue of C$2.15 billion during the quarter. Manulife Financial had a net margin of 11.97% and a return on equity of 12.60%. As a group, equities analysts anticipate that Manulife Financial will post 3.6104452 EPS for the current year.

Insider Activity at Manulife Financial

In other Manulife Financial news, Director Eileen Cloherty sold 6,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the director owned 3,412 shares in the company, valued at approximately C$182,371.40. This represents a 65.58% decrease in their position. Also, insider Rahul Madhav Joshi sold 50,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of C$53.76, for a total transaction of C$2,688,000.00. Following the completion of the sale, the insider owned 27,186 shares of the company’s stock, valued at approximately C$1,461,519.36. The trade was a 64.78% decrease in their position. Over the last ninety days, insiders sold 136,834 shares of company stock valued at $7,311,659. Company insiders own 0.03% of the company’s stock.

Manulife Financial Company Profile

(Get Free Report)

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.

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