Manulife Financial (TSE:MFC) Stock Price Expected to Rise, TD Securities Analyst Says

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target raised by equities research analysts at TD Securities from C$48.00 to C$49.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Securities’ price objective would suggest a potential upside of 13.53% from the stock’s current price.

Several other analysts have also issued reports on MFC. National Bankshares increased their price target on shares of Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday, November 7th. Barclays raised their target price on Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th. CIBC boosted their price target on Manulife Financial from C$46.00 to C$47.00 in a report on Thursday, January 30th. Cormark upped their price objective on Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. Finally, Scotiabank lifted their target price on Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$45.60.

Manulife Financial Stock Down 4.4 %

MFC opened at C$43.16 on Thursday. Manulife Financial has a twelve month low of C$31.24 and a twelve month high of C$46.42. The stock has a market capitalization of C$75.70 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 1.01 and a beta of 1.06. The company has a 50-day simple moving average of C$43.51 and a 200 day simple moving average of C$41.53.

Insider Buying and Selling

In other news, Senior Officer James D. Gallagher sold 57,064 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of C$44.80, for a total value of C$2,556,638.39. Also, Director Kenneth Michael Ross sold 4,243 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of C$45.80, for a total transaction of C$194,315.82. Insiders have sold a total of 62,307 shares of company stock worth $2,796,173 in the last ninety days. Company insiders own 0.03% of the company’s stock.

About Manulife Financial

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.