Manulife Financial (TSE:MFC) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective increased by Jefferies Financial Group from C$61.00 to C$70.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 15.38% from the company’s current price.

A number of other analysts have also recently issued reports on the company. National Bank Financial upped their target price on Manulife Financial from C$56.00 to C$59.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. TD lifted their price target on Manulife Financial from C$58.00 to C$65.00 and gave the stock a “buy” rating in a research report on Tuesday. Desjardins set a C$58.00 price objective on Manulife Financial and gave the company a “buy” rating in a research note on Friday, April 17th. Scotiabank increased their price objective on Manulife Financial from C$56.00 to C$61.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 15th. Finally, Canadian Imperial Bank of Commerce raised their target price on shares of Manulife Financial from C$61.00 to C$69.00 in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Manulife Financial presently has a consensus rating of “Buy” and an average target price of C$60.89.

Manulife Financial Price Performance

TSE MFC opened at C$60.67 on Tuesday. The company has a fifty day moving average of C$56.17 and a two-hundred day moving average of C$52.36. The company has a market capitalization of C$100.83 billion, a PE ratio of 17.48, a P/E/G ratio of 1.01 and a beta of 0.71. Manulife Financial has a 1 year low of C$41.08 and a 1 year high of C$61.18.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results on Wednesday, May 13th. The financial services provider reported C$1.06 EPS for the quarter. Manulife Financial had a return on equity of 12.60% and a net margin of 11.97%.The business had revenue of C$2.15 billion for the quarter. On average, research analysts expect that Manulife Financial will post 3.6104452 earnings per share for the current year.

Insider Buying and Selling at Manulife Financial

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