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

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has been assigned an average rating of “Buy” from the nine analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is C$58.78.

MFC has been the subject of a number of recent analyst reports. Scotiabank lifted their price objective on Manulife Financial from C$56.00 to C$61.00 and gave the company a “sector outperform” rating in a research report on Wednesday. TD reduced their target price on Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Canadian Imperial Bank of Commerce raised their price target on Manulife Financial from C$61.00 to C$69.00 in a research note on Wednesday. National Bank Financial lifted their price target on Manulife Financial from C$56.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Finally, Desjardins set a C$58.00 price target on Manulife Financial and gave the company a “buy” rating in a report on Friday, April 17th.

Manulife Financial Stock Performance

MFC stock opened at C$60.74 on Friday. The stock has a market capitalization of C$100.94 billion, a P/E ratio of 17.50, a PEG ratio of 1.01 and a beta of 0.71. Manulife Financial has a one year low of C$41.08 and a one year high of C$61.01. The company has a 50 day moving average price of C$55.83 and a two-hundred day moving average price of C$52.13.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings results on Wednesday, May 13th. The financial services provider reported C$1.06 earnings per share for the quarter. Manulife Financial had a return on equity of 12.60% and a net margin of 11.97%.The company had revenue of C$2.15 billion during the quarter. Research analysts forecast that Manulife Financial will post 3.6104452 earnings per share for the current fiscal year.

Insider Activity at Manulife Financial

In related news, Director Anthony Alex Silva sold 1,100 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of C$53.17, for a total transaction of C$58,487.00. Following the completion of the transaction, the director owned 7,075 shares of the company’s stock, valued at approximately C$376,177.75. This represents a 13.46% decrease in their ownership of the stock. Also, Director Aimee Decamillo sold 18,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director directly owned 4,996 shares of the company’s stock, valued at C$258,642.92. This trade represents a 78.27% decrease in their position. Insiders sold a total of 136,834 shares of company stock valued at $7,311,659 over the last three months. Insiders own 0.03% of the company’s stock.

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.