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

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price lifted by investment analysts at CIBC from C$47.00 to C$48.00 in a research report issued on Friday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 11.21% from the company’s current price.

MFC has been the subject of several other reports. National Bankshares upped their target price on Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday, November 7th. Jefferies Financial Group increased their target price on Manulife Financial from C$50.00 to C$51.00 in a research note on Thursday, January 30th. Cormark increased their target price on Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st. TD Securities increased their price target on Manulife Financial from C$48.00 to C$49.00 and gave the company a “buy” rating in a report on Thursday. Finally, Scotiabank increased their price target on Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. 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’s stock. Based on data from MarketBeat.com, Manulife Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of C$45.60.

Manulife Financial Stock Performance

MFC opened at C$43.16 on Friday. The business’s fifty day moving average is C$43.51 and its two-hundred day moving average is C$41.53. The company has a market cap of C$75.70 billion, a price-to-earnings ratio of 13.43, 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 Buying and Selling

In other news, Senior Officer James D. Gallagher sold 57,064 shares of Manulife Financial stock in a transaction on 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. Also, Director Anthony Alex Silva sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of C$45.22, for a total value of C$45,218.70. In the last 90 days, insiders have sold 62,307 shares of company stock valued at $2,796,173. 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.