Barclays Raises Manulife Financial (TSE:MFC) Price Target to C$47.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target lifted by equities researchers at Barclays from C$40.00 to C$47.00 in a research note issued to investors on Monday,BayStreet.CA reports. Barclays‘s price objective would suggest a potential upside of 6.79% from the company’s previous close.

Other analysts also recently issued research reports about the company. Cormark boosted their price objective on Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. CIBC increased their price target on shares of Manulife Financial from C$42.00 to C$46.00 in a research report on Friday, November 8th. Jefferies Financial Group boosted their price objective on shares of Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Scotiabank increased their target price on shares of Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. Finally, National Bankshares boosted their price target on Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$44.09.

Manulife Financial Stock Down 0.4 %

Shares of TSE:MFC opened at C$44.01 on Monday. The stock has a market capitalization of C$77.90 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. Manulife Financial has a 12-month low of C$28.06 and a 12-month high of C$46.42. The stock’s 50-day moving average price is C$44.23 and its 200-day moving average price is C$39.91. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60.

Insider Buying and Selling

In related news, Director Anthony Alex Silva sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of C$45.22, for a total value of C$45,218.70. Also, Senior Officer James D. Gallagher sold 57,064 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of C$44.80, for a total value of C$2,556,638.39. Insiders have sold 77,771 shares of company stock valued at $3,508,584 over the last quarter. Corporate insiders own 0.03% of the company’s stock.

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.