Manulife Financial Co. (TSE:MFC) Receives C$53.13 Average PT from Brokerages

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have been given an average recommendation of “Buy” by the nine research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is C$53.13.

A number of equities analysts have weighed in on the company. TD Securities upped their target price on Manulife Financial from C$57.00 to C$60.00 in a research note on Wednesday, January 14th. Cibc Captl Mkts raised shares of Manulife Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. UBS Group raised shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, October 16th. Royal Bank Of Canada set a C$52.00 price objective on shares of Manulife Financial and gave the company an “outperform” rating in a research report on Monday, January 19th. Finally, Desjardins set a C$55.00 target price on shares of Manulife Financial and gave the stock a “buy” rating in a research report on Thursday, December 18th.

Manulife Financial Price Performance

TSE MFC opened at C$50.71 on Friday. The company’s 50 day simple moving average is C$50.00 and its two-hundred day simple moving average is C$45.92. Manulife Financial has a 1 year low of C$36.93 and a 1 year high of C$52.42. The stock has a market capitalization of C$85.05 billion, a PE ratio of 16.25, a P/E/G ratio of 1.01 and a beta of 1.01.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings results on Wednesday, November 12th. The financial services provider reported C$1.16 earnings per share for the quarter. Manulife Financial had a net margin of 12.52% and a return on equity of 11.75%. The firm had revenue of C$26.23 billion for the quarter. On average, research analysts anticipate that Manulife Financial will post 3.6104452 EPS for the current year.

Insider Buying and Selling

In other Manulife Financial news, insider Shamus Edward Weiland sold 88,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of C$48.95, for a total value of C$4,332,075.00. Following the completion of the sale, the insider owned 53,495 shares of the company’s stock, valued at C$2,618,580.25. This represents a 62.33% decrease in their ownership of the stock. Also, insider Rahim Hirji sold 25,048 shares of Manulife Financial stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of C$48.25, for a total transaction of C$1,208,566.00. Following the transaction, the insider directly owned 31,315 shares in the company, valued at C$1,510,948.75. This trade represents a 44.44% decrease in their ownership of the stock. Insiders own 0.03% of the company’s stock.

Manulife Financial Company Profile

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada’s Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.