Manulife Financial Co. (TSE:MFC) Given Consensus Rating of “Buy” by Brokerages

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has been given an average rating of “Buy” by the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is C$57.00.

Several analysts have recently commented on MFC shares. National Bank Financial upped their price objective on shares of Manulife Financial from C$56.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. TD dropped their price objective on shares of Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Finally, Desjardins set a C$58.00 price objective on shares of Manulife Financial and gave the company a “buy” rating in a report on Friday, April 17th.

Insider Buying and Selling at Manulife Financial

In related news, Director Aimee Decamillo sold 18,000 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of C$51.77, for a total transaction of C$931,860.00. Following the sale, the director directly 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. Also, Director Anthony Alex Silva sold 1,100 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of C$53.17, for a total transaction of C$58,487.00. Following the sale, the director directly owned 7,075 shares in the company, valued at C$376,177.75. This trade represents a 13.46% decrease in their ownership of the stock. Insiders sold 136,834 shares of company stock valued at $7,311,659 over the last quarter. Insiders own 0.03% of the company’s stock.

Manulife Financial Price Performance

MFC stock opened at C$57.05 on Wednesday. The firm’s fifty day simple moving average is C$53.85 and its 200-day simple moving average is C$51.00. The company has a market capitalization of C$95.03 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 1.01 and a beta of 0.73. Manulife Financial has a 12 month low of C$41.08 and a 12 month high of C$58.06.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings data on Wednesday, May 13th. The financial services provider reported C$1.06 EPS for the quarter. The business had revenue of C$2.15 billion for the quarter. Manulife Financial had a net margin of 11.97% and a return on equity of 12.60%. As a group, sell-side analysts forecast that Manulife Financial will post 3.6104452 earnings per share for the current year.

Manulife Financial Company Profile

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.