Manulife Financial (TSE:MFC) Given New C$48.00 Price Target at TD Securities

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price boosted by TD Securities from C$45.00 to C$48.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD Securities’ price target indicates a potential upside of 6.57% from the stock’s previous close.

Several other research firms also recently weighed in on MFC. Jefferies Financial Group raised their price objective on Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. CIBC raised their price target on Manulife Financial from C$36.00 to C$42.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Scotiabank boosted their price objective on shares of Manulife Financial from C$41.00 to C$48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Finally, National Bankshares upped their price target on shares of Manulife Financial from C$38.00 to C$43.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Manulife Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of C$41.82.

Manulife Financial Price Performance

Manulife Financial stock traded up C$1.47 during midday trading on Thursday, reaching C$45.04. The company’s stock had a trading volume of 1,794,364 shares, compared to its average volume of 6,374,203. The stock’s 50 day simple moving average is C$39.84 and its 200 day simple moving average is C$36.88. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68. The firm has a market capitalization of C$79.72 billion, a PE ratio of 19.17, a P/E/G ratio of 1.01 and a beta of 1.06. Manulife Financial has a fifty-two week low of C$24.90 and a fifty-two week high of C$45.68.

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

Insider Activity

In other Manulife Financial news, Director Tin Ku sold 2,166 shares of Manulife Financial stock in a transaction that occurred on 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 transaction, the director now directly owns 253 shares of the company’s stock, valued at C$9,474.85. The trade was a 0.00 % decrease in their ownership of the stock. In other news, Director Tin Ku sold 2,166 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total value of C$81,116.70. Following the completion of the transaction, the director now directly owns 253 shares in the company, valued at approximately C$9,474.85. This represents a 0.00 % decrease in their ownership of the stock. Also, Director Rocco Gori sold 48,345 shares of Manulife Financial stock in a transaction on Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total transaction of C$1,727,395.86. Insiders sold a total of 68,821 shares of company stock valued at $2,455,596 over the last quarter. Company insiders own 0.03% of the company’s stock.

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.