Manulife Financial (TSE:MFC) Price Target Raised to C$69.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective boosted by Canadian Imperial Bank of Commerce from C$61.00 to C$69.00 in a report issued on Wednesday morning,BayStreet.CA reports.

Other analysts have also recently issued research reports about the stock. Desjardins set a C$58.00 price target on shares of Manulife Financial and gave the stock a “buy” rating in a research report on Friday, April 17th. TD dropped their price objective on shares of Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Finally, National Bank Financial upped their target price on shares of Manulife Financial from C$56.00 to C$59.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Manulife Financial has a consensus rating of “Buy” and a consensus target price of C$58.78.

Manulife Financial Trading Down 0.2%

MFC stock opened at C$60.74 on Wednesday. The company has a market capitalization of C$100.94 billion, a PE ratio of 17.50, a P/E/G ratio of 1.01 and a beta of 0.71. Manulife Financial has a 12-month low of C$41.08 and a 12-month high of C$61.01. The business’s fifty day moving average price is C$55.83 and its 200 day moving average price is C$52.13.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results on Wednesday, May 13th. The financial services provider reported C$1.06 earnings per share (EPS) for the quarter. Manulife Financial had a return on equity of 12.60% and a net margin of 11.97%.The firm had revenue of C$2.15 billion for the quarter. Research analysts predict that Manulife Financial will post 3.6104452 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Rahul Madhav Joshi sold 50,000 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of C$53.76, for a total transaction of C$2,688,000.00. Following the completion of the transaction, the insider directly owned 27,186 shares of the company’s stock, valued at C$1,461,519.36. The trade was a 64.78% decrease in their position. Also, Director Aimee Decamillo sold 18,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of C$51.77, for a total value of C$931,860.00. Following the sale, the director owned 4,996 shares in the company, valued at approximately C$258,642.92. This trade represents a 78.27% decrease in their position. Over the last 90 days, insiders sold 136,834 shares of company stock valued at $7,311,659. 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.