Manulife Financial Co. (TSE:MFC) Given Average Rating of “Buy” by Analysts

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have been given a consensus rating of “Buy” by the nine ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$58.78.

Several analysts have issued reports on MFC shares. TD reduced their price target on shares of Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Canadian Imperial Bank of Commerce lifted their price objective on Manulife Financial from C$61.00 to C$69.00 in a research report on Wednesday. Scotiabank upped their target price on Manulife Financial from C$56.00 to C$61.00 and gave the company a “sector outperform” rating in a research note on Wednesday. Desjardins set a C$58.00 target price on Manulife Financial and gave the company a “buy” rating in a report on Friday, April 17th. Finally, National Bank Financial increased their target price on Manulife Financial from C$56.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, May 14th.

Manulife Financial Stock Down 0.2%

TSE:MFC opened at C$60.74 on Friday. Manulife Financial has a 52-week low of C$41.08 and a 52-week high of C$61.01. The stock has a fifty day simple moving average of C$55.83 and a 200-day simple moving average of C$52.13. The company has a market capitalization of C$100.94 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71.

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

Insider Buying and Selling

In related news, insider Rahul Madhav Joshi sold 25,000 shares of Manulife Financial stock in a transaction dated Monday, June 8th. The stock was sold at an average price of C$54.29, for a total transaction of C$1,357,250.00. Following the completion of the sale, the insider owned 77,185 shares in the company, valued at approximately C$4,190,373.65. This trade represents a 24.47% decrease in their position. Also, Director Eileen Cloherty sold 6,500 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of C$53.45, for a total transaction of C$347,425.00. Following the completion of the transaction, the director directly owned 3,412 shares of the company’s stock, valued at C$182,371.40. The trade was a 65.58% decrease in their position. Insiders have sold 136,834 shares of company stock valued at $7,311,659 over the last three months. 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.