Barclays Analysts Give Manulife Financial (TSE:MFC) a C$39.00 Price Target

Manulife Financial (TSE:MFC) (NYSE:MFC) has been assigned a C$39.00 price objective by stock analysts at Barclays in a report released on Thursday, BayStreet.CA reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price points to a potential upside of 6.18% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of Manulife Financial from C$38.00 to C$39.00 in a report on Friday, August 9th. BMO Capital Markets lifted their price target on Manulife Financial from C$40.00 to C$41.00 in a research note on Friday, May 10th. TD Securities upped their price objective on Manulife Financial from C$40.00 to C$41.00 in a research note on Friday, July 12th. Evercore lifted their target price on Manulife Financial from C$36.00 to C$37.00 in a research report on Friday, May 10th. Finally, Scotiabank upped their price target on Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Manulife Financial has a consensus rating of “Moderate Buy” and an average price target of C$39.18.

Manulife Financial Stock Down 1.4 %

Shares of TSE MFC opened at C$36.73 on Thursday. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68. Manulife Financial has a 1 year low of C$23.69 and a 1 year high of C$37.58. The stock’s 50-day simple moving average is C$36.03 and its 200-day simple moving average is C$34.56. The firm has a market cap of C$65.38 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 12.56 and a beta of 1.06.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.88 by C$0.03. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. The firm had revenue of C$12.88 billion during the quarter, compared to analyst estimates of C$12.27 billion. As a group, equities analysts anticipate that Manulife Financial will post 3.6883768 earnings per share for the current fiscal year.

Insider Transactions at Manulife Financial

In related news, Director Tin Ku sold 2,166 shares of Manulife Financial stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total value of C$81,116.70. Following the sale, the director now directly owns 253 shares in the company, valued at approximately C$9,474.85. In related news, Director Tin Ku sold 2,166 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total value of C$81,116.70. Following the sale, the director now directly owns 253 shares in the company, valued at approximately C$9,474.85. Also, Director Matthew Lyman Macinnis sold 6,708 shares of Manulife Financial stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of C$34.67, for a total value of C$232,566.36. Over the last quarter, insiders sold 68,821 shares of company stock worth $2,455,596. Insiders own 0.03% 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.