Royal Bank Of Canada Boosts Manulife Financial Corp. (MFC) Price Target to C$28.00

Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) had its price target lifted by equities research analysts at Royal Bank Of Canada from C$26.00 to C$28.00 in a report issued on Friday. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 14.61% from the company’s current price.

Other equities analysts have also issued research reports about the stock. National Bank Financial raised their price objective on shares of Manulife Financial Corp. from C$26.00 to C$27.00 and gave the stock a “sector perform” rating in a research note on Thursday. Scotiabank reiterated an “outperform” rating and issued a C$28.00 target price on shares of Manulife Financial Corp. in a research report on Thursday, May 4th. TD Securities increased their target price on shares of Manulife Financial Corp. from C$25.00 to C$26.00 and gave the stock a “hold” rating in a research report on Thursday, May 4th. Finally, Barclays PLC increased their target price on shares of Manulife Financial Corp. from C$28.00 to C$29.00 in a research report on Wednesday, July 12th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of C$26.83.

Shares of Manulife Financial Corp. (MFC) traded up 1.60% on Friday, reaching $24.82. The company’s stock had a trading volume of 2,317,283 shares. The stock has a 50-day moving average of $24.98 and a 200 day moving average of $24.24. The stock has a market capitalization of $48.68 billion and a PE ratio of 13.55. Manulife Financial Corp. has a 1-year low of $16.94 and a 1-year high of $26.11.

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In other news, insider Rocco Gori bought 421,492 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were acquired at an average cost of C$17.59 per share, for a total transaction of C$7,414,044.28. Also, insider Stephani Kingsmill sold 10,400 shares of the firm’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of C$24.61, for a total transaction of C$255,944.00.

Manulife Financial Corp. Company Profile

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

Analyst Recommendations for Manulife Financial Corp. (TSE:MFC)

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