Manulife Financial (TSE:MFC) PT Raised to C$38.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective hoisted by TD Securities from C$37.00 to C$38.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Securities’ target price points to a potential upside of 8.73% from the stock’s previous close.

Several other analysts have also commented on MFC. Veritas Investment Research restated a “reduce” rating on shares of Manulife Financial in a research report on Friday, February 16th. National Bankshares upgraded shares of Manulife Financial from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$34.00 to C$38.00 in a research report on Thursday. CIBC lifted their target price on shares of Manulife Financial from C$30.00 to C$34.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Evercore lifted their target price on shares of Manulife Financial from C$30.00 to C$36.00 in a research report on Tuesday, February 20th. Finally, Desjardins upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from C$29.00 to C$36.00 in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Manulife Financial presently has an average rating of “Moderate Buy” and an average price target of C$36.90.

Manulife Financial Stock Performance

MFC stock traded up C$1.35 during midday trading on Thursday, hitting C$34.95. 3,245,650 shares of the stock traded hands, compared to its average volume of 6,107,089. The firm has a market cap of C$62.91 billion, a P/E ratio of 13.39, a PEG ratio of 12.56 and a beta of 1.09. The company has a debt-to-equity ratio of 45.69, a current ratio of 3.79 and a quick ratio of 2.58. The stock’s fifty day simple moving average is C$32.58 and its 200-day simple moving average is C$29.74. Manulife Financial has a 1-year low of C$23.69 and a 1-year high of C$35.05.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings results on Wednesday, February 14th. The financial services provider reported C$0.92 EPS for the quarter, beating the consensus estimate of C$0.84 by C$0.08. The company had revenue of C$14.92 billion for the quarter, compared to analyst estimates of C$10.24 billion. Manulife Financial had a net margin of 20.05% and a return on equity of 11.57%. On average, analysts expect that Manulife Financial will post 3.6797312 earnings per share for the current year.

Insider Transactions at Manulife Financial

In other news, Director Brooks Tingle sold 3,317 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$108,664.92. In other Manulife Financial news, Senior Officer Steve Finch sold 10,294 shares of Manulife Financial stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total transaction of C$337,231.44. Also, Director Brooks Tingle sold 3,317 shares of Manulife Financial stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$108,664.92. Insiders own 0.02% of the company’s stock.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.