Brokerages Set Manulife Financial Co. (TSE:MFC) Target Price at C$40.82

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$40.82.

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. CIBC increased their price target on shares of Manulife Financial from C$36.00 to C$42.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Barclays set a C$39.00 price objective on Manulife Financial and gave the company an “equal weight” rating in a report on Thursday, September 5th. Finally, National Bankshares increased their target price on Manulife Financial from C$38.00 to C$43.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st.

Insider Buying and Selling at Manulife Financial

In other Manulife Financial news, Director Tin Ku sold 2,166 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the completion of the transaction, the director now directly owns 253 shares in the company, valued at approximately C$9,474.85. This trade represents a 0.00 % decrease in their position. In other Manulife Financial news, Director Tin Ku sold 2,166 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the sale, the director now owns 253 shares in the company, valued at approximately C$9,474.85. This represents a 0.00 % decrease in their position. Also, Director Matthew Lyman Macinnis sold 6,708 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total value of C$232,566.36. Over the last 90 days, insiders have sold 68,821 shares of company stock valued at $2,455,596. Insiders own 0.03% of the company’s stock.

Manulife Financial Stock Performance

Shares of MFC stock opened at C$41.49 on Friday. The stock’s 50-day moving average price is C$39.71 and its 200 day moving average price is C$36.79. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60. The stock has a market capitalization of C$73.44 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. Manulife Financial has a 52-week low of C$24.90 and a 52-week high of C$42.52.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share for the quarter, beating the consensus estimate of C$0.88 by C$0.03. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. The company had revenue of C$12.88 billion for the quarter, compared to the consensus estimate of C$12.27 billion. As a group, equities research analysts forecast that Manulife Financial will post 3.6104452 EPS for the current year.

Manulife Financial Company Profile

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.