Manulife Financial Co. (TSE:MFC) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have been given an average recommendation of “Buy” by the nine brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$57.00.

Several analysts recently issued reports on MFC shares. Jefferies Financial Group raised their price target on Manulife Financial from C$54.00 to C$58.00 in a report on Monday, February 2nd. TD Securities cut their price target on Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Desjardins set a C$58.00 price target on Manulife Financial and gave the stock a “buy” rating in a report on Friday, April 17th. National Bank Financial raised their price target on Manulife Financial from C$56.00 to C$59.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Finally, TD reduced their target price on shares of Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating for the company in a research note on Thursday, May 14th.

Insider Activity

In other Manulife Financial news, insider Rahul Madhav Joshi sold 50,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of C$53.76, for a total value of C$2,688,000.00. Following the completion of the transaction, the insider owned 27,186 shares in the company, valued at approximately C$1,461,519.36. This represents a 64.78% decrease in their position. Also, Director Aimee Decamillo sold 18,000 shares of the company’s stock in a transaction dated 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 owned 4,996 shares of the company’s stock, valued at approximately C$258,642.92. This trade represents a 78.27% decrease in their position. Insiders have sold a total of 73,834 shares of company stock worth $3,906,579 in the last quarter. Company insiders own 0.03% of the company’s stock.

Manulife Financial Trading Down 0.1%

Shares of Manulife Financial stock opened at C$52.73 on Friday. The business’s 50 day simple moving average is C$51.43 and its 200-day simple moving average is C$50.15. The stock has a market capitalization of C$88.00 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.01 and a beta of 0.74. Manulife Financial has a twelve month low of C$41.08 and a twelve month high of C$55.34.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings results on Wednesday, May 13th. The financial services provider reported C$1.06 earnings per share (EPS) for the quarter. The business had revenue of C$2.15 billion for the quarter. Manulife Financial had a return on equity of 12.65% and a net margin of 11.97%. Sell-side analysts predict that Manulife Financial will post 3.6104452 earnings per share for the current year.

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.