TD Securities Boosts Manulife Financial (TSE:MFC) Price Target to C$48.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price increased by analysts at TD Securities from C$45.00 to C$48.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD Securities’ target price would suggest a potential upside of 6.57% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Barclays set a C$39.00 price objective on shares of Manulife Financial and gave the company an “equal weight” rating in a research report on Thursday, September 5th. Royal Bank of Canada raised their price target on Manulife Financial from C$38.00 to C$39.00 in a research note on Friday, August 9th. Scotiabank lifted their price target on Manulife Financial from C$41.00 to C$48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. CIBC increased their price objective on Manulife Financial from C$36.00 to C$42.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$41.82.

Manulife Financial Stock Up 3.4 %

MFC traded up C$1.47 on Thursday, hitting C$45.04. 1,794,364 shares of the company were exchanged, compared to its average volume of 6,374,203. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. The company has a market cap of C$79.72 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The firm has a 50-day moving average price of C$39.84 and a two-hundred day moving average price of C$36.88. Manulife Financial has a twelve month low of C$24.90 and a twelve month high of C$45.68.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.91 EPS for the quarter, topping analysts’ consensus estimates of C$0.88 by C$0.03. The business had revenue of C$12.88 billion during the quarter, compared to the consensus estimate of C$12.27 billion. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. On average, equities analysts predict that Manulife Financial will post 3.6104452 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Matthew Lyman Macinnis sold 6,708 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of C$34.67, for a total transaction of C$232,566.36. In other Manulife Financial news, Director Rocco Gori sold 48,345 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total value of C$1,727,395.86. Also, Director Matthew Lyman Macinnis sold 6,708 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total transaction of C$232,566.36. In the last three months, insiders have sold 68,821 shares of company stock valued at $2,455,596. 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.