TD Securities Has Lowered Expectations for Manulife Financial (TSE:MFC) Stock Price

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price decreased by research analysts at TD Securities from C$60.00 to C$59.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD Securities’ target price points to a potential upside of 17.84% from the stock’s current price.

Several other research analysts also recently commented on MFC. UBS Group raised Manulife Financial to a “strong-buy” rating in a research note on Thursday, October 16th. Royal Bank Of Canada set a C$52.00 target price on shares of Manulife Financial and gave the stock an “outperform” rating in a report on Monday, January 19th. Canadian Imperial Bank of Commerce raised shares of Manulife Financial from a “hold” rating to an “outperform” rating and raised their price target for the stock from C$50.00 to C$58.00 in a research note on Thursday, January 8th. Desjardins set a C$55.00 price target on shares of Manulife Financial and gave the stock a “buy” rating in a research report on Thursday, December 18th. Finally, Barclays increased their price objective on shares of Manulife Financial from C$49.00 to C$52.00 in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Manulife Financial presently has an average rating of “Buy” and an average target price of C$55.63.

Manulife Financial Stock Up 2.8%

MFC opened at C$50.07 on Thursday. Manulife Financial has a twelve month low of C$36.93 and a twelve month high of C$52.97. The company has a 50-day moving average price of C$50.63 and a 200 day moving average price of C$46.69. The company has a market cap of C$83.95 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.01 and a beta of 0.99.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported C$1.12 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 company had revenue of C$22.03 billion for the quarter. As a group, sell-side analysts expect that Manulife Financial will post 3.6104452 earnings per share for the current year.

Insider Activity

In other news, insider Rahim Hirji sold 25,048 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were 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 owned 31,315 shares of the company’s stock, valued at C$1,510,948.75. This represents a 44.44% decrease in their position. Also, 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 sale, 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. Insiders own 0.03% of the company’s stock.

About Manulife Financial

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.