Manulife Financial (TSE:MFC) Price Target Raised to C$70.00 at Jefferies Financial Group

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective lifted by Jefferies Financial Group from C$61.00 to C$70.00 in a research report report published on Tuesday,BayStreet.CA reports. Jefferies Financial Group currently has a buy rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. National Bank Financial boosted their target price on Manulife Financial from C$56.00 to C$59.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Scotiabank raised their price target on Manulife Financial from C$56.00 to C$61.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 15th. Desjardins set a C$58.00 price target on Manulife Financial and gave the company a “buy” rating in a report on Friday, April 17th. 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, July 15th. Finally, TD boosted their price objective on Manulife Financial from C$58.00 to C$65.00 and gave the stock a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$60.89.

Manulife Financial Stock Up 1.1%

TSE:MFC opened at C$60.41 on Tuesday. The firm has a market cap of C$100.40 billion, a PE ratio of 17.41, a price-to-earnings-growth 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$61.18. The company’s 50-day moving average price is C$56.05 and its two-hundred day moving average price is C$52.29.

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 for the quarter. The firm had revenue of C$2.15 billion for the quarter. Manulife Financial had a net margin of 11.97% and a return on equity of 12.60%. On average, research analysts expect that Manulife Financial will post 3.6104452 EPS for the current fiscal year.

Insider Activity at Manulife Financial

In other Manulife Financial news, 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 value 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 approximately C$182,371.40. The trade was a 65.58% decrease in their ownership of the stock. Also, insider Rahul Madhav Joshi sold 25,000 shares of the business’s 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 transaction, the insider directly owned 77,185 shares of the company’s stock, valued at approximately C$4,190,373.65. This represents a 24.47% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 136,834 shares of company stock worth $7,311,659. 0.03% of the stock is owned by 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.