Manulife Financial (TSE:MFC) Given a C$57.00 Price Target by National Bank Financial Analysts

Manulife Financial (TSE:MFC) (NYSE:MFC) has been given a C$57.00 target price by stock analysts at National Bank Financial in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s price objective would suggest a potential upside of 7.71% from the company’s previous close.

A number of other equities research analysts have also weighed in on MFC. Jefferies Financial Group boosted their price target on Manulife Financial from C$54.00 to C$58.00 in a research note on Monday, February 2nd. Barclays boosted their price target on Manulife Financial from C$49.00 to C$52.00 in a research note on Friday, January 9th. Scotiabank boosted their price target on Manulife Financial from C$55.00 to C$56.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Canadian Imperial Bank of Commerce upgraded Manulife Financial from a “hold” rating to an “outperform” rating and boosted their price target for the stock from C$50.00 to C$58.00 in a research note on Thursday, January 8th. Finally, Royal Bank Of Canada upped their target price on Manulife Financial from C$52.00 to C$55.00 and gave the company an “outperform” rating in a research report 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. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$56.63.

Manulife Financial Price Performance

Shares of MFC stock opened at C$52.92 on Friday. Manulife Financial has a fifty-two week low of C$41.08 and a fifty-two week high of C$53.60. The firm has a market capitalization of C$88.49 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 1.01 and a beta of 0.71. The company has a debt-to-equity ratio of 28.80, a quick ratio of 2.58 and a current ratio of 2.12. The stock’s 50-day simple moving average is C$48.92 and its 200-day simple moving average is C$48.88.

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

Insider Buying and Selling

In related news, Director Adam Thomas Wise sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of C$46.47, for a total value of C$162,645.00. Following the sale, the director owned 2,497 shares in the company, valued at C$116,035.59. This represents a 58.36% decrease in their ownership of the stock. 0.03% of the stock is currently owned by corporate insiders.

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.