Manulife Financial (TSE:MFC) Stock Price Expected to Rise, TD Securities Analyst Says

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price upped by equities research analysts at TD Securities from C$50.00 to C$54.00 in a research note issued on Wednesday,BayStreet.CA reports. TD Securities’ price objective would suggest a potential upside of 20.59% from the company’s current price.

A number of other research firms have also weighed in on MFC. Royal Bank Of Canada dropped their target price on shares of Manulife Financial from C$51.00 to C$49.00 and set an “outperform” rating for the company in a report on Friday, August 8th. National Bankshares dropped their target price on shares of Manulife Financial from C$48.00 to C$47.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Finally, Barclays increased their target price on shares of Manulife Financial from C$47.00 to C$48.00 and gave the stock an “equal weight” rating in a report on Wednesday. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$48.50.

Manulife Financial Trading Down 1.5%

Manulife Financial stock opened at C$44.78 on Wednesday. The firm has a 50-day moving average of C$42.82 and a 200-day moving average of C$42.67. The firm has a market cap of C$75.88 billion, a P/E ratio of 14.45, a P/E/G ratio of 1.01 and a beta of 0.93. Manulife Financial has a 1-year low of C$36.93 and a 1-year high of C$46.42.

Insider Buying and Selling at Manulife Financial

In other Manulife Financial news, insider Paul Lorentz sold 178,425 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of C$41.90, for a total transaction of C$7,476,007.50. Following the completion of the transaction, the insider owned 79,930 shares of the company’s stock, valued at approximately C$3,349,067. This trade represents a 69.06% decrease in their ownership of the stock. Insiders have sold a total of 179,582 shares of company stock worth $7,516,321 over the last ninety days. 0.03% of the stock is currently owned by company insiders.

Manulife Financial Company Profile

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada’s Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.