Manulife Financial (TSE:MFC) Price Target Raised to C$49.00 at Scotiabank

by · The Cerbat Gem

Manulife Financial (TSE:MFC – Get Free Report) (NYSE:MFC) had its price target increased by equities research analysts at Scotiabank from C$48.00 to C$49.00 in a note issued to investors on Friday,BayStreet.CA reports. Scotiabank’s price objective would indicate a potential upside of 10.81% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada upped their price target on shares of Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. National Bankshares raised their target price on Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday. Jefferies Financial Group upped their price target on Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, CIBC boosted their price target on shares of Manulife Financial from C$36.00 to C$42.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Manulife Financial currently has an average rating of “Moderate Buy” and an average target price of C$42.27.

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Manulife Financial Stock Performance

Manulife Financial stock traded down C$0.54 during mid-day trading on Friday, hitting C$44.22. 852,346 shares of the company’s stock traded hands, compared to its average volume of 6,369,308. Manulife Financial has a one year low of C$25.39 and a one year high of C$45.68. The company has a market cap of C$78.27 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The firm has a 50 day moving average price of C$39.84 and a 200 day moving average price of C$36.88. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60.

Manulife Financial (TSE:MFC – Get Free Report) (NYSE:MFC) last announced its earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 EPS for the quarter, topping the consensus estimate of C$0.88 by C$0.03. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. The firm had revenue of C$12.88 billion for the quarter, compared to analysts’ expectations of C$12.27 billion. On average, equities analysts forecast that Manulife Financial will post 3.6104452 EPS for the current year.

Insider Transactions at Manulife Financial

In other news, Director Tin Ku sold 2,166 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the completion of the transaction, the director now owns 253 shares of the company’s stock, valued at approximately C$9,474.85. This represents a 0.00 % decrease in their ownership of the stock. In related news, Director Tin Ku sold 2,166 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the completion of the transaction, the director now owns 253 shares in the company, valued at C$9,474.85. This trade represents a 0.00 % decrease in their position. Also, Director Matthew Lyman Macinnis sold 6,708 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total transaction of C$232,566.36. Over the last quarter, insiders have sold 68,821 shares of company stock worth $2,455,596. Insiders own 0.03% of the company’s stock.

Manulife Financial Company Profile

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Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.

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