Manulife Financial (TSE:MFC) Price Target Raised to C$55.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target boosted by equities research analysts at Scotiabank from C$53.00 to C$55.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s target price indicates a potential upside of 7.34% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. TD Securities lifted their target price on shares of Manulife Financial from C$57.00 to C$60.00 in a research report on Wednesday, January 14th. Royal Bank Of Canada set a C$52.00 price target on shares of Manulife Financial and gave the company an “outperform” rating in a report on Monday, January 19th. Desjardins set a C$55.00 price objective on shares of Manulife Financial and gave the stock a “buy” rating in a research note on Thursday, December 18th. National Bankshares raised their price objective on shares of Manulife Financial from C$47.00 to C$52.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Finally, Cibc Captl Mkts upgraded shares of Manulife Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Manulife Financial currently has a consensus rating of “Buy” and a consensus target price of C$55.25.

Manulife Financial Trading Up 0.7%

TSE MFC traded up C$0.35 during trading on Thursday, hitting C$51.24. The company had a trading volume of 7,162,704 shares, compared to its average volume of 5,078,647. Manulife Financial has a one year low of C$36.93 and a one year high of C$52.97. The company’s fifty day moving average is C$50.37 and its 200-day moving average is C$46.30. The company has a market cap of C$85.94 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 1.01 and a beta of 0.99.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its earnings results on Wednesday, November 12th. The financial services provider reported C$1.16 EPS for the quarter. Manulife Financial had a return on equity of 11.75% and a net margin of 12.52%.The company had revenue of C$26.23 billion during the quarter. As a group, equities analysts anticipate that Manulife Financial will post 3.6104452 EPS for the current year.

Insider Buying and Selling at Manulife Financial

In other Manulife Financial news, insider Shamus Edward Weiland sold 88,500 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of C$48.95, for a total transaction of C$4,332,075.00. Following the completion of the transaction, the insider owned 53,495 shares of the company’s stock, valued at C$2,618,580.25. This represents a 62.33% decrease in their position. Also, insider Rahim Hirji sold 25,048 shares of Manulife Financial stock in a transaction dated Friday, November 21st. The stock was sold at an average price of C$48.25, for a total value of C$1,208,566.00. Following the completion of the sale, the insider directly owned 31,315 shares in the company, valued at C$1,510,948.75. This trade represents a 44.44% decrease in their ownership of the stock. 0.03% of the stock is owned by insiders.

Manulife Financial Company Profile

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada’s Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.