Desjardins Issues Positive Forecast for Manulife Financial (TSE:MFC) Stock Price

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target lifted by analysts at Desjardins from C$63.00 to C$68.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Desjardins’ price objective points to a potential upside of 9.89% from the company’s previous close.

MFC has been the topic of a number of other research reports. TD increased their price objective on Manulife Financial from C$65.00 to C$67.00 and gave the stock a “buy” rating in a report on Thursday. Canadian Imperial Bank of Commerce upped their price target on Manulife Financial from C$61.00 to C$69.00 in a research report on Wednesday, July 15th. National Bank Financial increased their price target on shares of Manulife Financial from C$59.00 to C$69.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Jefferies Financial Group raised their price target on shares of Manulife Financial from C$61.00 to C$70.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, Barclays upped their price target on shares of Manulife Financial from C$56.00 to C$59.00 and gave the stock an “equal weight” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Manulife Financial has an average rating of “Buy” and a consensus target price of C$66.00.

Manulife Financial Stock Down 1.0%

MFC traded down C$0.64 on Friday, hitting C$61.88. The company’s stock had a trading volume of 1,206,204 shares, compared to its average volume of 6,002,304. Manulife Financial has a 12 month low of C$41.08 and a 12 month high of C$63.58. The firm has a market cap of C$102.84 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. The company’s 50 day simple moving average is C$58.24 and its 200-day simple moving average is C$53.20.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its earnings results on Wednesday, August 5th. The financial services provider reported C$1.09 earnings per share (EPS) for the quarter. The business had revenue of C$20.34 billion for the quarter. Manulife Financial had a net margin of 11.97% and a return on equity of 12.60%. Equities analysts predict that Manulife Financial will post 3.6104452 earnings per share for the current fiscal 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 that occurred on Wednesday, May 27th. The shares were sold at an average price of C$53.45, for a total value of C$347,425.00. Following the completion of the transaction, the director owned 3,412 shares of the company’s stock, valued at C$182,371.40. The trade was a 65.58% decrease in their position. Also, Director Aimee Decamillo sold 18,000 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of C$51.77, for a total transaction of C$931,860.00. Following the completion of the transaction, the director directly owned 4,996 shares in the company, valued at C$258,642.92. The trade was a 78.27% decrease in their position. Insiders have sold a total of 136,834 shares of company stock valued at $7,311,659 in the last ninety days. 0.03% of the stock is currently owned by company insiders.

Manulife Financial Company Profile

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.