Manulife Financial (TSE:MFC) Price Target Raised to C$65.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price boosted by TD from C$58.00 to C$65.00 in a research note issued to investors on Tuesday morning,BayStreet.CA reports. TD currently has a buy rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on MFC. Scotiabank increased their price objective on Manulife Financial from C$56.00 to C$61.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 15th. Canadian Imperial Bank of Commerce upped their price target on Manulife Financial from C$61.00 to C$69.00 in a research report on Wednesday, July 15th. Desjardins set a C$58.00 price objective on Manulife Financial and gave the stock a “buy” rating in a research report on Friday, April 17th. Finally, National Bank Financial upped their target price on Manulife Financial from C$56.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$62.00.

Manulife Financial Trading Up 0.0%

TSE:MFC opened at C$60.69 on Tuesday. The stock has a market cap of C$100.86 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. The stock’s 50-day moving average is C$56.35 and its 200-day moving average is C$52.44. Manulife Financial has a 1-year low of C$41.08 and a 1-year high of C$61.18.

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

Insiders Place Their Bets

In related news, Director Aimee Decamillo sold 18,000 shares of the company’s stock in a transaction dated 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 position. Also, insider Rahul Madhav Joshi sold 25,000 shares of Manulife Financial stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of C$54.29, for a total value of C$1,357,250.00. Following the completion of the sale, the insider owned 77,185 shares of the company’s stock, valued at approximately C$4,190,373.65. The trade was a 24.47% decrease in their ownership of the stock. Insiders have sold 136,834 shares of company stock worth $7,311,659 in the last quarter. 0.03% of the stock is currently owned by company 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.