Manulife Financial (TSE:MFC) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price raised by equities research analysts at Jefferies Financial Group from C$50.00 to C$51.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Jefferies Financial Group’s target price suggests a potential upside of 17.35% from the company’s previous close.

Several other analysts also recently issued reports on the company. Scotiabank boosted their price objective on Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. TD Securities upped their price target on shares of Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. CIBC lifted their price objective on shares of Manulife Financial from C$46.00 to C$47.00 in a research report on Thursday. National Bankshares increased their target price on Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Finally, Barclays lifted their price target on Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$44.55.

Manulife Financial Stock Down 1.6 %

TSE MFC opened at C$43.46 on Thursday. The company has a market capitalization of C$76.92 billion, a P/E ratio of 18.49, a PEG ratio of 1.01 and a beta of 1.06. Manulife Financial has a 12 month low of C$28.95 and a 12 month high of C$46.42. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. The company’s 50 day simple moving average is C$44.22 and its 200 day simple moving average is C$40.81.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported C$1.00 EPS for the quarter, beating analysts’ consensus estimates of C$0.95 by C$0.05. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Equities research analysts expect that Manulife Financial will post 3.6104452 earnings per share for the current fiscal year.

Insider Activity at Manulife Financial

In other Manulife Financial news, Senior Officer Steve Finch sold 11,598 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of C$46.07, for a total value of C$534,308.26. Also, Director Brooks Tingle sold 3,866 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total transaction of C$178,102.75. Insiders sold a total of 77,771 shares of company stock worth $3,508,584 in the last 90 days. 0.03% of the stock is owned by company insiders.

About Manulife Financial

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.