Manulife Financial (TSE:MFC) Price Target Raised to C$47.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target upped by equities research analysts at CIBC from C$46.00 to C$47.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 8.15% from the company’s current price.

Several other brokerages have also weighed in on MFC. National Bankshares increased their price objective on shares of Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Scotiabank increased their price target on shares of Manulife Financial from C$48.00 to C$49.00 in a research note on Friday, November 8th. TD Securities boosted their price objective on shares of Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group increased their target price on Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Cormark boosted their price target on Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Manulife Financial has a consensus rating of “Moderate Buy” and an average price target of C$44.55.

Manulife Financial Stock Down 1.6 %

MFC stock opened at C$43.46 on Thursday. Manulife Financial has a one year low of C$28.95 and a one year high of C$46.42. The stock has a market capitalization of C$76.92 billion, a P/E ratio of 18.49, a PEG ratio of 1.01 and a beta of 1.06. The company has a 50 day moving average price of C$44.22 and a two-hundred day moving average price of C$40.81. 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 (TSE:MFC) (NYSE:MFC) last released its earnings results on Wednesday, November 6th. The financial services provider reported C$1.00 EPS for the quarter, beating the consensus estimate of C$0.95 by C$0.05. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. During the same period last year, the company earned $0.92 earnings per share. As a group, sell-side analysts expect that Manulife Financial will post 3.6104452 EPS for the current year.

Insider Activity at Manulife Financial

In related news, Senior Officer Steve Finch sold 11,598 shares of Manulife Financial stock in a transaction on Thursday, November 14th. The shares were sold at an average price of C$46.07, for a total transaction of C$534,308.26. Also, Director Brooks Tingle sold 3,866 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of C$46.07, for a total transaction of C$178,102.75. In the last ninety days, insiders have sold 77,771 shares of company stock worth $3,508,584. 0.03% of the stock is currently owned by company insiders.

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.