Manulife Financial (TSE:MFC) Price Target Raised to C$48.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price upped by research analysts at CIBC from C$47.00 to C$48.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 10.52% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group raised their price target on shares of Manulife Financial from C$50.00 to C$51.00 in a report on Thursday, January 30th. Cormark raised their target price on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. National Bankshares raised their target price on shares of Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday, November 7th. TD Securities raised their target price on shares of Manulife Financial from C$48.00 to C$49.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Barclays lifted their price target on shares of Manulife Financial from C$40.00 to C$47.00 in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$45.60.

Manulife Financial Stock Performance

Shares of MFC stock traded down C$1.71 on Friday, hitting C$43.43. 1,911,643 shares of the company’s stock traded hands, compared to its average volume of 5,434,449. Manulife Financial has a one year low of C$31.24 and a one year high of C$46.42. The company’s fifty day simple moving average is C$43.53 and its 200 day simple moving average is C$41.52. The stock has a market capitalization of C$76.18 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 1.01 and a beta of 1.06.

Insider Activity at Manulife Financial

In other news, Director Anthony Alex Silva sold 1,000 shares of the company’s stock in a transaction dated 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 company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total transaction of C$2,556,638.39. Over the last ninety days, insiders sold 62,307 shares of company stock worth $2,796,173. 0.03% of the stock is owned by company insiders.

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.