Manulife Financial (TSE:MFC) Price Target Raised to C$69.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price upped by National Bank Financial from C$59.00 to C$69.00 in a research report report published on Thursday morning,BayStreet.CA reports. They currently have an outperform rating on the financial services provider’s stock.

MFC has been the topic of several other research reports. Scotiabank upped their price objective on shares of Manulife Financial from C$56.00 to C$61.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 15th. Canadian Imperial Bank of Commerce raised their target price on Manulife Financial from C$61.00 to C$69.00 in a research note on Wednesday, July 15th. Jefferies Financial Group boosted their target price on Manulife Financial from C$61.00 to C$70.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Desjardins set a C$58.00 price target on Manulife Financial and gave the stock a “buy” rating in a research note on Friday, April 17th. Finally, TD increased their price target on Manulife Financial from C$58.00 to C$65.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$62.00.

Manulife Financial Trading Up 1.4%

TSE:MFC opened at C$61.56 on Thursday. The stock has a market cap of C$102.31 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. The stock’s 50-day moving average is C$56.55 and its 200-day moving average is C$52.50. Manulife Financial has a 1-year low of C$41.08 and a 1-year high of C$61.67.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings results on Wednesday, May 13th. The financial services provider reported C$1.06 earnings per share for the quarter. Manulife Financial had a return on equity of 12.60% and a net margin of 11.97%.The company had revenue of C$2.15 billion during the quarter. As a group, equities analysts forecast 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 business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of C$53.45, for a total value of C$347,425.00. Following the sale, the director directly owned 3,412 shares in the company, valued at C$182,371.40. The trade was a 65.58% decrease in their ownership of the stock. Also, Director Aimee Decamillo sold 18,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of C$51.77, for a total value of C$931,860.00. Following the completion of the sale, the director owned 4,996 shares in the company, valued at C$258,642.92. This represents a 78.27% decrease in their ownership of the stock. In the last ninety days, insiders sold 136,834 shares of company stock worth $7,311,659. Insiders own 0.03% of the company’s stock.

About Manulife Financial

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.