Analysts Set Manulife Financial Co. (MFC) PT at $27.83
Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have been assigned an average rating of “Buy” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$27.83.
MFC has been the topic of a number of analyst reports. Desjardins increased their target price on Manulife Financial from C$27.00 to C$28.00 in a report on Monday, April 15th. TD Securities lowered their target price on Manulife Financial from C$30.00 to C$29.00 and set a “buy” rating on the stock in a report on Thursday, February 14th. Finally, National Bank Financial lowered their target price on Manulife Financial from C$27.00 to C$25.00 and set an “outperform” rating on the stock in a report on Thursday, January 24th.
TSE:MFC traded down C$0.29 during trading hours on Friday, reaching C$24.38. 5,479,035 shares of the company traded hands, compared to its average volume of 5,111,356. The stock has a market cap of $48.46 billion and a PE ratio of 10.46. The company has a debt-to-equity ratio of 40.97, a quick ratio of 1.88 and a current ratio of 4.96. Manulife Financial has a 1-year low of C$18.33 and a 1-year high of C$25.20.
In other news, Director Brian Collins sold 2,937 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of C$21.53, for a total transaction of C$63,240.37. Also, Senior Officer Steve Finch sold 1,407 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of C$21.53, for a total value of C$30,295.95. Following the sale, the insider now owns 6,214 shares in the company, valued at approximately C$133,801.71.
About Manulife Financial
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.
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