Manulife Financial (TSE:MFC) PT Set at C$52.00 by Royal Bank Of Canada

Manulife Financial (TSE:MFC) (NYSE:MFC) has been given a C$52.00 price target by equities research analysts at Royal Bank Of Canada in a research report issued on Monday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 2.71% from the stock’s current price.

Several other equities analysts also recently weighed in on MFC. TD Securities lifted their target price on Manulife Financial from C$57.00 to C$60.00 in a research report on Wednesday, January 14th. National Bankshares raised their price objective on Manulife Financial from C$47.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. UBS Group upgraded Manulife Financial to a “strong-buy” rating in a research note on Thursday, October 16th. Desjardins set a C$55.00 target price on shares of Manulife Financial and gave the stock a “buy” rating in a research note on Thursday, December 18th. Finally, Barclays upped their price target on shares of Manulife Financial from C$49.00 to C$52.00 in a research report on Friday, January 9th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Manulife Financial currently has an average rating of “Buy” and an average target price of C$53.13.

Manulife Financial Trading Down 2.9%

Shares of MFC stock opened at C$50.63 on Monday. Manulife Financial has a 12-month low of C$36.93 and a 12-month high of C$52.42. The stock has a market capitalization of C$84.92 billion, a P/E ratio of 16.23, a P/E/G ratio of 1.01 and a beta of 1.01. The firm’s 50 day moving average is C$49.71 and its 200 day moving average is C$45.60.

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

Insiders Place Their Bets

In other Manulife Financial news, insider Shamus Edward Weiland sold 88,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was 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 in the company, valued at C$2,618,580.25. This trade represents a 62.33% decrease in their position. Also, insider Rahim Hirji sold 25,048 shares of Manulife Financial stock in a transaction that occurred on 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 approximately C$1,510,948.75. The trade was a 44.44% decrease in their position. 0.03% of the stock is currently owned by corporate 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.