Manulife Financial (TSE:MFC) PT Set at C$58.00 by Desjardins

Manulife Financial (TSE:MFC) (NYSE:MFC) has been assigned a C$58.00 target price by equities researchers at Desjardins in a report released on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Desjardins’ price target suggests a potential upside of 9.02% from the stock’s previous close.

MFC has been the topic of a number of other reports. Jefferies Financial Group boosted their target price on shares of Manulife Financial from C$54.00 to C$58.00 in a research note on Monday, February 2nd. Canadian Imperial Bank of Commerce upgraded shares of Manulife Financial from a “hold” rating to an “outperform” rating and boosted their target price for the company from C$50.00 to C$58.00 in a research note on Thursday, January 8th. TD Securities dropped their target price on shares of Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Scotiabank boosted their target price on shares of Manulife Financial from C$55.00 to C$56.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Finally, Royal Bank Of Canada boosted their target price on shares of Manulife Financial from C$52.00 to C$55.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Manulife Financial presently has a consensus rating of “Buy” and a consensus price target of C$56.00.

Manulife Financial Stock Up 0.4%

Manulife Financial stock opened at C$53.20 on Friday. Manulife Financial has a fifty-two week low of C$38.93 and a fifty-two week high of C$53.60. The stock has a market cap of C$88.96 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. The firm’s 50-day simple moving average is C$48.73 and its 200 day simple moving average is C$48.60. The company has a debt-to-equity ratio of 28.80, a quick ratio of 2.58 and a current ratio of 2.12.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its earnings results on Wednesday, February 11th. The financial services provider reported C$1.12 earnings per share for the quarter. The firm had revenue of C$22.03 billion for the quarter. Manulife Financial had a net margin of 10.91% and a return on equity of 11.34%. Research analysts predict that Manulife Financial will post 3.6104452 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Adam Thomas Wise sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of C$46.47, for a total value of C$162,645.00. Following the completion of the transaction, the director directly owned 2,497 shares of the company’s stock, valued at approximately C$116,035.59. This trade represents a 58.36% decrease in their position. Company insiders own 0.03% of the company’s stock.

About Manulife Financial

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.