Manulife Financial (TSE:MFC) Stock Gets Price Target Increase from National Bank Financial

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target hoisted by stock analysts at National Bank Financial from C$68.00 to C$69.00 in a research report issued to clients and investors on Thursday, BayStreet reports. The firm presently has an “outperform” rating on the financial services provider’s stock. National Bank Financial‘s price objective would indicate a potential upside of 10.67% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. Barclays increased their price objective on shares of Manulife Financial from C$56.00 to C$59.00 and gave the company an “equal weight” rating in a research report on Thursday, August 6th. Desjardins lifted their price objective on shares of Manulife Financial from C$63.00 to C$68.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Canadian Imperial Bank of Commerce boosted their target price on shares of Manulife Financial from C$61.00 to C$69.00 in a research note on Wednesday, July 15th. Jefferies Financial Group increased their target price on 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, Scotia increased their target price on Manulife Financial from C$61.00 to C$67.00 and gave the company a “sector outperform” rating in a report on Friday, August 7th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Manulife Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of C$67.00.

Manulife Financial Stock Down 2.8%

Shares of MFC stock traded down C$1.82 during trading hours on Thursday, reaching C$62.35. 2,790,044 shares of the stock were exchanged, compared to its average volume of 5,735,612. The business’s fifty day moving average is C$61.40 and its two-hundred day moving average is C$55.72. The company has a debt-to-equity ratio of 26.52, a current ratio of 2.36 and a quick ratio of 2.58. Manulife Financial has a 12-month low of C$44.23 and a 12-month high of C$64.60. The firm has a market capitalization of C$103.15 billion, a P/E ratio of 16.90, a P/E/G ratio of 1.01 and a beta of 0.59.

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 for the quarter. Manulife Financial had a net margin of 11.62% and a return on equity of 12.98%. The firm had revenue of C$20.34 billion for the quarter. As a group, research analysts expect that Manulife Financial will post 3.61 EPS for the current fiscal year.

Insider Transactions at Manulife Financial

In related news, insider Patrick David Graham sold 6,843 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of C$62.06, for a total value of C$424,676.58. 0.03% of the stock is owned by company insiders.

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.