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

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective boosted by stock analysts at Cormark from C$47.00 to C$48.00 in a report issued on Thursday,BayStreet.CA reports. Cormark’s price objective suggests a potential upside of 5.80% from the stock’s current price.

A number of other research firms have also commented on MFC. Scotiabank upped their price target on Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. 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. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Royal Bank of Canada upped their price target on Manulife Financial from C$38.00 to C$39.00 in a research note on Friday, August 9th. Finally, TD Securities upped their price target on Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$43.45.

Manulife Financial Trading Down 0.6 %

MFC opened at C$45.37 on Thursday. The business has a 50 day simple moving average of C$41.64 and a two-hundred day simple moving average of C$37.85. The firm has a market capitalization of C$80.30 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 1.01 and a beta of 1.06. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. Manulife Financial has a one year low of C$26.05 and a one year high of C$46.42.

Insider Buying and Selling at Manulife Financial

In related news, Director Brooks Tingle sold 3,866 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total value of C$178,102.75. Also, Director Tin Ku sold 2,166 shares of the firm’s 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. This represents a 89.54 % decrease in their ownership of the stock. In the last three months, insiders have sold 17,630 shares of company stock worth $793,528. 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.