Manulife Financial (TSE:MFC) Price Target Raised to C$65.00 at TD

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price upped by TD from C$58.00 to C$65.00 in a research note issued to investors on Tuesday morning,BayStreet.CA reports. They currently have a buy rating on the financial services provider’s stock.

Several other analysts also recently issued reports on MFC. Canadian Imperial Bank of Commerce upped their price target on Manulife Financial from C$61.00 to C$69.00 in a research note on Wednesday, July 15th. National Bank Financial raised their price objective on Manulife Financial from C$56.00 to C$59.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Scotiabank boosted their target price on Manulife Financial from C$56.00 to C$61.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 15th. Finally, Desjardins set a C$58.00 target price on Manulife Financial and gave the stock a “buy” rating in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Manulife Financial currently has a consensus rating of “Buy” and a consensus price target of C$60.89.

Manulife Financial Trading Up 1.1%

MFC stock opened at C$60.41 on Tuesday. Manulife Financial has a 1 year low of C$41.08 and a 1 year high of C$61.18. The company has a fifty day simple moving average of C$56.05 and a 200 day simple moving average of C$52.29. The firm has a market cap of C$100.40 billion, a PE ratio of 17.41, a PEG 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 earnings per share (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 during the quarter. As a group, analysts forecast that Manulife Financial will post 3.6104452 EPS for the current fiscal year.

Insider Activity

In other Manulife Financial news, Director Aimee Decamillo sold 18,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of C$51.77, for a total transaction of C$931,860.00. Following the completion of the transaction, the director owned 4,996 shares of the company’s stock, valued at C$258,642.92. The trade was a 78.27% decrease in their position. Also, Director Anthony Alex Silva purchased 2,334 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were purchased at an average price of C$53.16 per share, with a total value of C$124,075.44. Following the completion of the acquisition, the director directly owned 8,175 shares of the company’s stock, valued at approximately C$434,583. This trade represents a 39.96% increase in their ownership of the stock. Insiders sold 136,834 shares of company stock worth $7,311,659 in the last 90 days. 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.