Manulife Financial (TSE:MFC) Price Target Raised to C$41.00 at Scotiabank

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price raised by equities research analysts at Scotiabank from C$40.00 to C$41.00 in a report released on Friday, BayStreet.CA reports. Scotiabank’s price objective indicates a potential upside of 18.98% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. TD Securities boosted their target price on shares of Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, July 12th. CIBC increased their target price on shares of Manulife Financial from C$34.00 to C$36.00 in a research report on Friday, May 10th. National Bankshares boosted their price target on shares of Manulife Financial from C$38.00 to C$43.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. BMO Capital Markets boosted their target price on Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, May 10th. Finally, Jefferies Financial Group cut their price target on shares of Manulife Financial from C$43.00 to C$42.00 in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Manulife Financial presently has an average rating of “Moderate Buy” and a consensus target price of C$38.64.

Manulife Financial Trading Up 1.3 %

Shares of TSE:MFC traded up C$0.45 during midday trading on Friday, reaching C$34.46. The company’s stock had a trading volume of 758,983 shares, compared to its average volume of 6,333,253. Manulife Financial has a fifty-two week low of C$23.69 and a fifty-two week high of C$37.46. The company has a debt-to-equity ratio of 48.44, a quick ratio of 2.58 and a current ratio of 29.14. The firm has a 50 day moving average price of C$35.71 and a two-hundred day moving average price of C$33.70. The firm has a market capitalization of C$62.03 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 12.56 and a beta of 1.10.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported C$0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.90 by C$0.04. Manulife Financial had a return on equity of 10.48% and a net margin of 18.29%. The firm had revenue of C$12.80 billion for the quarter, compared to analyst estimates of C$12.13 billion. As a group, analysts forecast that Manulife Financial will post 3.6078629 earnings per share for the current year.

Insider Activity

In other news, Senior Officer Steve Finch sold 11,598 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of C$35.29, for a total transaction of C$409,293.42. In other news, Senior Officer Steve Finch sold 11,598 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of C$35.29, for a total transaction of C$409,293.42. Also, Director Philip James Witherington sold 97,640 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of C$35.17, for a total value of C$3,433,852.34. In the last three months, insiders have sold 157,878 shares of company stock worth $5,557,706. 0.02% of the stock is currently owned by corporate insiders.

Manulife Financial Company Profile

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.