Manulife Financial Co. (TSE:MFC – Get Free Report) (NYSE:MFC)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$55.42 and last traded at C$55.41, with a volume of 241415 shares traded. The stock had previously closed at C$54.77.
Analysts Set New Price Targets
Several research analysts have recently issued reports on MFC shares. National Bank Financial increased their price target on Manulife Financial from C$56.00 to C$59.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Scotiabank raised their target price on Manulife Financial from C$55.00 to C$56.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. TD decreased their target price on Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Royal Bank Of Canada upped their target price on Manulife Financial from C$52.00 to C$55.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Finally, Desjardins set a C$58.00 target price on Manulife Financial and gave the stock a “buy” rating in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$57.00.
Read Our Latest Stock Analysis on MFC
Manulife Financial Stock Performance
Manulife Financial (TSE:MFC – Get Free Report) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, May 13th. The financial services provider reported C$1.06 EPS for the quarter. Manulife Financial had a return on equity of 12.65% and a net margin of 11.97%.The company had revenue of C$2.15 billion during the quarter. Sell-side analysts anticipate that Manulife Financial Co. will post 3.6104452 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Aimee Decamillo sold 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of C$51.77, for a total transaction of C$931,860.00. Following the completion of the transaction, the director owned 4,996 shares in the company, valued at C$258,642.92. This trade represents a 78.27% decrease in their position. Also, Director Anthony Alex Silva bought 2,334 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were bought at an average price of C$53.16 per share, with a total value of C$124,075.44. Following the transaction, the director directly owned 8,175 shares in the company, valued at C$434,583. This trade represents a 39.96% increase in their ownership of the stock. Insiders have sold 136,834 shares of company stock worth $7,311,659 over the last 90 days. Corporate insiders own 0.03% of the company’s stock.
Manulife Financial Company Profile
Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.
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