Jefferies Financial Group Raises Manulife Financial (TSE:MFC) Price Target to C$70.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price lifted by investment analysts at Jefferies Financial Group from C$61.00 to C$70.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 15.89% from the company’s current price.

Other research analysts have also issued research reports about the company. National Bank Financial raised their price objective on Manulife Financial from C$56.00 to C$59.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. TD increased their target price on Manulife Financial from C$58.00 to C$65.00 and gave the stock a “buy” rating in a research note on Tuesday. Desjardins set a C$58.00 target price on Manulife Financial and gave the stock a “buy” rating in a research note on Friday, April 17th. Canadian Imperial Bank of Commerce lifted their price target on Manulife Financial from C$61.00 to C$69.00 in a research report on Wednesday, July 15th. Finally, Scotiabank upped their price target on shares of Manulife Financial from C$56.00 to C$61.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Manulife Financial presently has a consensus rating of “Buy” and a consensus target price of C$60.89.

Manulife Financial Price Performance

TSE:MFC traded up C$0.64 during mid-day trading on Tuesday, hitting C$60.40. 741,770 shares of the company’s stock were exchanged, compared to its average volume of 6,063,546. Manulife Financial has a one year low of C$41.08 and a one year high of C$61.18. The business has a fifty day moving average price of C$55.94 and a 200 day moving average price of C$52.21. The company has a market cap of C$100.38 billion, a PE ratio of 17.41, a P/E/G ratio of 1.01 and a beta of 0.71.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its earnings results on Wednesday, May 13th. The financial services provider reported C$1.06 earnings per share for the quarter. Manulife Financial had a net margin of 11.97% and a return on equity of 12.60%. The business had revenue of C$2.15 billion during the quarter. On average, equities analysts forecast that Manulife Financial will post 3.6104452 EPS for the current fiscal year.

Insider Buying and Selling at Manulife Financial

In other news, Director Aimee Decamillo sold 18,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of C$51.77, for a total value of C$931,860.00. Following the transaction, the director directly owned 4,996 shares in the company, valued at C$258,642.92. The trade was a 78.27% decrease in their ownership of the stock. Also, Director Anthony Alex Silva sold 1,100 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of C$53.17, for a total transaction of C$58,487.00. Following the transaction, the director owned 7,075 shares of the company’s stock, valued at approximately C$376,177.75. This represents a 13.46% decrease in their position. Over the last three months, insiders have sold 136,834 shares of company stock valued at $7,311,659. 0.03% of the stock is owned by corporate insiders.

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.