Manulife Financial (TSE:MFC) Price Target Raised to C$67.00 at Royal Bank Of Canada

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective increased by stock analysts at Royal Bank Of Canada from C$55.00 to C$67.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 8.27% from the company’s previous close.

A number of other analysts also recently issued reports on MFC. National Bank Financial raised their price objective on Manulife Financial from C$59.00 to C$69.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Canadian Imperial Bank of Commerce increased their target price on shares of Manulife Financial from C$61.00 to C$69.00 in a research note on Wednesday, July 15th. Barclays lifted their price target on shares of Manulife Financial from C$56.00 to C$59.00 and gave the company an “equal weight” rating in a research report on Thursday. Scotiabank upped their price objective on shares of 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, Jefferies Financial Group lifted their target price on shares of Manulife Financial from C$61.00 to C$70.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Manulife Financial has a consensus rating of “Buy” and a consensus target price of C$66.00.

Manulife Financial Trading Down 1.0%

Manulife Financial stock traded down C$0.64 during mid-day trading on Friday, hitting C$61.88. The company’s stock had a trading volume of 1,206,204 shares, compared to its average volume of 6,002,304. The stock’s fifty day moving average is C$58.24 and its two-hundred day moving average is C$53.20. The firm has a market capitalization of C$102.84 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. Manulife Financial has a 1 year low of C$41.08 and a 1 year high of C$63.58.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results on Wednesday, August 5th. The financial services provider reported C$1.09 EPS for the quarter. Manulife Financial had a return on equity of 12.60% and a net margin of 11.97%.The company had revenue of C$20.34 billion for the quarter. On average, equities analysts expect that Manulife Financial will post 3.6104452 EPS for the current fiscal year.

Insider Buying and Selling at Manulife Financial

In other news, Director Eileen Cloherty sold 6,500 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of C$53.45, for a total transaction of C$347,425.00. Following the sale, the director owned 3,412 shares of the company’s stock, valued at approximately C$182,371.40. This represents a 65.58% decrease in their ownership of the stock. Also, Director Anthony Alex Silva sold 1,100 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of C$53.17, for a total transaction of C$58,487.00. Following the completion of the transaction, the director directly owned 7,075 shares of the company’s stock, valued at approximately C$376,177.75. The trade was a 13.46% decrease in their position. Insiders have sold 136,834 shares of company stock valued at $7,311,659 over the last three months. 0.03% of the stock is currently owned by company 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.