TD Securities Increases Manulife Financial (TSE:MFC) Price Target to C$40.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective raised by analysts at TD Securities from C$38.00 to C$40.00 in a report issued on Friday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Securities’ price target indicates a potential upside of 9.80% from the company’s previous close.

Several other research analysts have also issued reports on MFC. National Bank Financial upgraded Manulife Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a research report on Wednesday, May 8th. BMO Capital Markets raised their price target on Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, May 10th. National Bankshares upgraded Manulife Financial from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$34.00 to C$38.00 in a research report on Thursday, May 9th. CIBC raised their price target on Manulife Financial from C$34.00 to C$36.00 in a research report on Friday, May 10th. Finally, Evercore raised their price target on Manulife Financial from C$36.00 to C$37.00 in a research report on Friday, May 10th. One 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$37.50.

Manulife Financial Stock Up 0.4 %

Shares of MFC opened at C$36.43 on Friday. The firm has a market capitalization of C$65.57 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 12.56 and a beta of 1.10. The company has a debt-to-equity ratio of 48.44, a quick ratio of 2.58 and a current ratio of 29.14. The business’s fifty day moving average price is C$34.79 and its two-hundred day moving average price is C$32.30. Manulife Financial has a 52 week low of C$23.69 and a 52 week high of C$36.62.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported C$0.94 EPS for the quarter, beating analysts’ consensus estimates of C$0.90 by C$0.04. Manulife Financial had a return on equity of 10.48% and a net margin of 18.29%. The firm had revenue of C$12.80 billion for the quarter, compared to analyst estimates of C$12.13 billion. On average, analysts predict that Manulife Financial will post 3.6078629 earnings per share for the current year.

Insider Buying and Selling at Manulife Financial

In other Manulife Financial news, Senior Officer Steve Finch sold 11,598 shares of Manulife Financial stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of C$35.29, for a total value of C$409,293.42. In other news, Director Philip James Witherington sold 97,640 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of C$35.17, for a total value of C$3,433,852.34. Also, Senior Officer Steve Finch sold 11,598 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of C$35.29, for a total value of C$409,293.42. Insiders have sold 157,878 shares of company stock valued at $5,557,706 in the last 90 days. 0.02% of the stock is currently owned by company insiders.

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.