Manulife Financial (TSE:MFC) Given New C$60.00 Price Target at TD Securities

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price boosted by TD Securities from C$57.00 to C$60.00 in a research note issued to investors on Wednesday,BayStreet.CA reports.

A number of other equities research analysts have also recently weighed in on MFC. UBS Group upgraded shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, October 16th. National Bankshares boosted their price target on shares of Manulife Financial from C$47.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. CIBC upgraded shares of Manulife Financial from a “neutral” rating to an “outperform” rating and increased their price objective for the company from C$50.00 to C$58.00 in a report on Thursday, January 8th. Cibc Captl Mkts upgraded shares of Manulife Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Finally, Royal Bank Of Canada upped their target price on Manulife Financial from C$49.00 to C$52.00 in a research report on Friday, November 14th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$53.13.

Manulife Financial Trading Up 1.4%

MFC opened at C$51.79 on Wednesday. The business’s 50 day moving average is C$49.31 and its 200-day moving average is C$45.34. The stock has a market cap of C$86.86 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.01 and a beta of 1.01. Manulife Financial has a twelve month low of C$36.93 and a twelve month high of C$52.25.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results on Wednesday, November 12th. The financial services provider reported C$1.16 EPS for the quarter. The firm had revenue of C$26.23 billion for the quarter. Manulife Financial had a return on equity of 11.75% and a net margin of 12.52%. As a group, analysts forecast that Manulife Financial will post 3.6104452 EPS for the current year.

Insider Activity at Manulife Financial

In other Manulife Financial news, insider Rahim Hirji sold 25,048 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of C$48.25, for a total value of C$1,208,566.00. Following the transaction, the insider owned 31,315 shares of the company’s stock, valued at approximately C$1,510,948.75. This represents a 44.44% decrease in their ownership of the stock. Also, insider Shamus Edward Weiland sold 88,500 shares of the stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of C$48.95, for a total value of C$4,332,075.00. Following the sale, the insider owned 53,495 shares of the company’s stock, valued at C$2,618,580.25. This trade represents a 62.33% decrease in their position. Insiders own 0.03% of the company’s stock.

About Manulife Financial

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.