Manulife Financial (TSE:MFC – Get Free Report) (NYSE:MFC) had its price target raised by analysts at TD from C$58.00 to C$65.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD’s price target suggests a potential upside of 7.62% from the company’s previous close.
MFC has been the subject of a number of other research reports. Desjardins set a C$58.00 price objective on shares of Manulife Financial and gave the stock a “buy” rating in a report on Friday, April 17th. Scotiabank lifted their price target on shares of Manulife Financial from C$56.00 to C$61.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 15th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Manulife Financial from C$61.00 to C$69.00 in a research report on Wednesday, July 15th. Finally, National Bank Financial raised their target price on shares of Manulife Financial from C$56.00 to C$59.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$60.89.
Check Out Our Latest Analysis on Manulife Financial
Manulife Financial Trading Up 1.1%
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 earnings per share for the quarter. Manulife Financial had a return on equity of 12.60% and a net margin of 11.97%.The firm had revenue of C$2.15 billion during the quarter. Equities research analysts forecast that Manulife Financial will post 3.6104452 earnings per share for the current fiscal year.
Insider Activity at Manulife Financial
In other news, Director Aimee Decamillo sold 18,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of C$51.77, for a total value of C$931,860.00. Following the completion of the transaction, the director directly owned 4,996 shares in the company, valued at C$258,642.92. This trade represents a 78.27% decrease in their ownership of the stock. Also, insider Rahul Madhav Joshi sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of C$54.29, for a total transaction of C$1,357,250.00. Following the transaction, the insider owned 77,185 shares in the company, valued at C$4,190,373.65. This represents a 24.47% decrease in their position. Insiders have sold a total of 136,834 shares of company stock valued at $7,311,659 over the last quarter. 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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