TD Securities Increases Manulife Financial (TSE:MFC) Price Target to C$40.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price raised by analysts at TD Securities from C$38.00 to C$40.00 in a research note issued on Friday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Securities’ target price suggests a potential upside of 9.80% from the stock’s current price.

MFC has been the topic of several other research reports. BMO Capital Markets upped their price objective on shares of Manulife Financial from C$40.00 to C$41.00 in a report on Friday, May 10th. National Bank Financial upgraded shares of Manulife Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a report on Wednesday, May 8th. CIBC upped their target price on shares of Manulife Financial from C$34.00 to C$36.00 in a report on Friday, May 10th. Evercore raised their price target on shares of Manulife Financial from C$36.00 to C$37.00 in a research report on Friday, May 10th. Finally, National Bankshares raised shares of Manulife Financial from a “sector perform” rating to an “outperform” rating and raised their price target for the company from C$34.00 to C$38.00 in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Manulife Financial has a consensus rating of “Moderate Buy” and an average target price of C$37.50.

Manulife Financial Stock Performance

Shares of MFC opened at C$36.43 on Friday. The company has a current ratio of 29.14, a quick ratio of 2.58 and a debt-to-equity ratio of 48.44. The stock has a market capitalization of C$65.57 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 12.56 and a beta of 1.10. The firm’s fifty day simple moving average is C$34.79 and its two-hundred day simple moving average is C$32.30. Manulife Financial has a 12 month low of C$23.69 and a 12 month high of C$36.62.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported C$0.94 EPS for the quarter, beating analysts’ consensus estimates of C$0.90 by C$0.04. The business had revenue of C$12.80 billion for the quarter, compared to analysts’ expectations of C$12.13 billion. Manulife Financial had a net margin of 18.29% and a return on equity of 10.48%. As a group, analysts predict that Manulife Financial will post 3.6078629 EPS for the current year.

Insiders Place Their Bets

In other Manulife Financial news, Senior Officer Steve Finch sold 11,598 shares of Manulife Financial stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of C$35.29, for a total transaction of C$409,293.42. In other Manulife Financial news, Senior Officer Steve Finch sold 11,598 shares of Manulife Financial stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of C$35.29, for a total transaction of C$409,293.42. Also, Director Rocco Gori sold 48,640 shares of Manulife Financial stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of C$35.25, for a total transaction of C$1,714,560.00. Insiders have sold a total of 157,878 shares of company stock valued at $5,557,706 in the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

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.