Manulife Financial Co. (TSE:MFC) Receives C$58.78 Consensus Target Price from Brokerages

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has been given a consensus rating of “Buy” by the ten analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is C$62.00.

Several equities research analysts have commented on MFC shares. Scotiabank boosted their target price on shares of 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. Canadian Imperial Bank of Commerce upped their target price on Manulife Financial from C$61.00 to C$69.00 in a research note on Wednesday, July 15th. Jefferies Financial Group raised their price target on shares of Manulife Financial from C$61.00 to C$70.00 and gave the stock a “buy” rating in a research note on Tuesday. TD raised their target price on shares of Manulife Financial from C$58.00 to C$65.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Desjardins set a C$58.00 target price on shares of Manulife Financial and gave the stock a “buy” rating in a research note on Friday, April 17th.

Insider Activity at Manulife Financial

In other Manulife Financial news, insider Rahul Madhav Joshi sold 50,000 shares of the 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 transaction of C$2,688,000.00. Following the transaction, the insider owned 27,186 shares of the company’s stock, valued at C$1,461,519.36. This trade represents a 64.78% decrease in their ownership of the stock. Also, Director Aimee Decamillo sold 18,000 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of C$51.77, for a total value of C$931,860.00. Following the completion of the transaction, the director directly owned 4,996 shares in the company, valued at C$258,642.92. This trade represents a 78.27% decrease in their ownership of the stock. Over the last three months, insiders sold 136,834 shares of company stock worth $7,311,659. 0.03% of the stock is currently owned by company insiders.

Manulife Financial Price Performance

TSE:MFC opened at C$60.69 on Friday. Manulife Financial has a 1-year low of C$41.08 and a 1-year high of C$61.18. The firm’s fifty day moving average price is C$56.35 and its 200 day moving average price is C$52.44. The firm has a market cap of C$100.86 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71.

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

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.