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

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target increased by TD from C$58.00 to C$65.00 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD’s price target indicates a potential upside of 7.14% from the company’s previous close.

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

Manulife Financial Stock Performance

Shares of Manulife Financial stock opened at C$60.67 on Tuesday. The firm has a market capitalization of C$100.83 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.01 and a beta of 0.71. Manulife Financial has a fifty-two week low of C$41.08 and a fifty-two week high of C$61.18. The stock has a 50 day moving average of C$56.17 and a 200 day moving average of C$52.36.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results on Wednesday, May 13th. The financial services provider reported C$1.06 earnings per share (EPS) 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. Analysts forecast that Manulife Financial will post 3.6104452 EPS for the current year.

Insider Transactions at Manulife Financial

In other news, Director Eileen Cloherty sold 6,500 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of C$53.45, for a total transaction of C$347,425.00. Following the completion of the transaction, the director directly owned 3,412 shares in the company, valued at C$182,371.40. This trade represents a 65.58% decrease in their ownership of the stock. Also, Director Aimee Decamillo sold 18,000 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of C$51.77, for a total value of C$931,860.00. Following the transaction, the director owned 4,996 shares of the company’s stock, valued at approximately C$258,642.92. This represents a 78.27% decrease in their ownership of the stock. Insiders sold 136,834 shares of company stock worth $7,311,659 in the last ninety days. 0.03% of the stock is owned by company 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.