Manulife Financial (TSE:MFC) Price Target Raised to C$48.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target raised by equities researchers at CIBC from C$47.00 to C$48.00 in a research report issued on Friday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 10.52% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Scotiabank boosted their target price on shares of Manulife Financial from C$48.00 to C$49.00 in a research note on Friday, November 8th. Jefferies Financial Group boosted their price objective on shares of Manulife Financial from C$50.00 to C$51.00 in a research note on Thursday, January 30th. TD Securities boosted their price objective on shares of Manulife Financial from C$48.00 to C$49.00 and gave the stock a “buy” rating in a research note on Thursday. National Bankshares boosted their price objective on shares of Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday, November 7th. Finally, Barclays boosted their target price on shares of Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$45.60.

Manulife Financial Stock Down 3.8 %

Shares of TSE MFC traded down C$1.71 during midday trading on Friday, reaching C$43.43. 1,911,643 shares of the company were exchanged, compared to its average volume of 5,434,449. The stock’s 50-day moving average price is C$43.53 and its 200-day moving average price is C$41.52. The stock has a market cap of C$76.18 billion, a P/E ratio of 13.51, a PEG ratio of 1.01 and a beta of 1.06. Manulife Financial has a one year low of C$31.24 and a one year high of C$46.42.

Insider Activity at Manulife Financial

In other Manulife Financial news, Director Kenneth Michael Ross sold 4,243 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of C$45.80, for a total value of C$194,315.82. Also, Director Anthony Alex Silva sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of C$45.22, for a total transaction of C$45,218.70. In the last ninety days, insiders have sold 62,307 shares of company stock worth $2,796,173. 0.03% of the stock is owned by corporate 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.