Manulife Financial (TSE:MFC) Given New C$69.00 Price Target at National Bank Financial

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target increased by National Bank Financial from C$59.00 to C$69.00 in a report published on Thursday,BayStreet.CA reports. National Bank Financial currently has an outperform rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on MFC. Scotiabank boosted their price target on Manulife Financial from C$56.00 to C$61.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 15th. TD raised their price target on Manulife Financial from C$58.00 to C$65.00 and gave the company a “buy” rating in a report on Tuesday. Jefferies Financial Group lifted their price objective on shares of Manulife Financial from C$61.00 to C$70.00 and gave the company a “buy” rating in a research note on Tuesday. Canadian Imperial Bank of Commerce upped their price objective on shares of Manulife Financial from C$61.00 to C$69.00 in a report on Wednesday, July 15th. Finally, Desjardins set a C$58.00 target price on shares of Manulife Financial and gave the company a “buy” rating in a research 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, the stock has a consensus rating of “Buy” and a consensus price target of C$62.00.

Manulife Financial Trading Up 0.0%

Shares of TSE MFC opened at C$60.69 on Thursday. The stock has a 50 day simple moving average of C$56.35 and a 200-day simple moving average of C$52.44. The company has a market cap of C$100.86 billion, a PE ratio of 17.49, 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$61.18.

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 return on equity of 12.60% and a net margin of 11.97%.The business had revenue of C$2.15 billion during the quarter. Sell-side analysts forecast that Manulife Financial will post 3.6104452 earnings per share for the current fiscal year.

Insider Buying and Selling at Manulife Financial

In related news, insider Rahul Madhav Joshi sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of C$53.76, for a total value of C$2,688,000.00. Following the sale, the insider directly owned 27,186 shares in the company, valued at C$1,461,519.36. The trade was a 64.78% decrease in their position. Also, Director Anthony Alex Silva bought 2,334 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was acquired at an average price of C$53.16 per share, for a total transaction of C$124,075.44. Following the completion of the acquisition, the director directly owned 8,175 shares in the company, valued at approximately C$434,583. This represents a 39.96% increase in their ownership of the stock. In the last quarter, insiders have sold 136,834 shares of company stock worth $7,311,659. Company insiders own 0.03% of the company’s stock.

Manulife Financial Company Profile

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.