TD Securities Increases Manulife Financial (TSE:MFC) Price Target to C$49.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target upped by research analysts at TD Securities from C$48.00 to C$49.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. TD Securities’ target price indicates a potential upside of 13.53% from the stock’s previous close.

Several other equities research analysts have also weighed in on MFC. National Bankshares increased their target price on shares of Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Scotiabank lifted their target price on Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. Jefferies Financial Group raised their price target on Manulife Financial from C$50.00 to C$51.00 in a research report on Thursday, January 30th. CIBC increased their target price on Manulife Financial from C$46.00 to C$47.00 in a research note on Thursday, January 30th. Finally, Barclays upped their price target on shares of Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$45.60.

Manulife Financial Price Performance

Shares of MFC stock opened at C$43.16 on Thursday. The stock has a market cap of C$75.70 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The stock has a 50-day moving average of C$43.51 and a 200-day moving average of C$41.53. 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 related news, Director Kenneth Michael Ross sold 4,243 shares of the company’s stock in a transaction dated 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, Senior Officer James D. Gallagher sold 57,064 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total transaction of C$2,556,638.39. In the last 90 days, insiders have sold 62,307 shares of company stock worth $2,796,173. 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.