Manulife Financial (TSE:MFC) Given New C$67.00 Price Target at Royal Bank Of Canada

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target hoisted by equities researchers at Royal Bank Of Canada from C$55.00 to C$67.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s target price points to a potential upside of 8.27% from the stock’s current price.

Several other research analysts have also recently commented on MFC. Scotiabank boosted their price target on shares of Manulife Financial from C$56.00 to C$61.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 15th. National Bank Financial lifted their price objective on shares of Manulife Financial from C$59.00 to C$69.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Barclays boosted their target price on shares of Manulife Financial from C$56.00 to C$59.00 and gave the stock an “equal weight” rating in a research note on Thursday. Jefferies Financial Group raised their price target on Manulife Financial from C$61.00 to C$70.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Finally, Canadian Imperial Bank of Commerce lifted their price target on Manulife Financial from C$61.00 to C$69.00 in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$66.00.

Manulife Financial Stock Performance

Shares of MFC traded down C$0.64 during midday trading on Friday, hitting C$61.88. The company had a trading volume of 1,206,204 shares, compared to its average volume of 6,002,304. The company’s 50-day simple moving average is C$58.24 and its 200-day simple moving average is C$53.20. The firm has a market capitalization of C$102.84 billion, a P/E ratio of 17.83, 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$63.58.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported C$1.09 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$20.34 billion during the quarter. Equities analysts predict that Manulife Financial will post 3.6104452 earnings per share for the current fiscal year.

Insider Activity at Manulife Financial

In related news, Director Eileen Cloherty sold 6,500 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of C$53.45, for a total value of C$347,425.00. Following the transaction, the director directly owned 3,412 shares of the company’s stock, valued at C$182,371.40. This trade represents a 65.58% decrease in their position. Also, Director Aimee Decamillo sold 18,000 shares of Manulife Financial stock in a transaction on 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 sale, the director owned 4,996 shares in the company, valued at C$258,642.92. This represents a 78.27% decrease in their ownership of the stock. Insiders have sold a total of 136,834 shares of company stock worth $7,311,659 over the last 90 days. 0.03% of the stock is owned by corporate insiders.

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.