Manulife Financial (TSE:MFC) PT Set at C$51.00 by Royal Bank of Canada

Manulife Financial (TSE:MFC) (NYSE:MFC) has been assigned a C$51.00 target price by Royal Bank of Canada in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 26.55% from the company’s current price.

MFC has been the subject of several other reports. CIBC upped their target price on Manulife Financial from C$47.00 to C$48.00 in a research note on Friday, February 21st. Jefferies Financial Group increased their target price on Manulife Financial from C$50.00 to C$51.00 in a research report on Thursday, January 30th. Barclays dropped their price target on Manulife Financial from C$49.00 to C$45.00 in a research note on Friday. Finally, TD Securities boosted their target price on Manulife Financial from C$48.00 to C$49.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$46.60.

Manulife Financial Stock Performance

Manulife Financial stock traded up C$0.36 during midday trading on Tuesday, reaching C$40.30. 1,150,515 shares of the company were exchanged, compared to its average volume of 6,997,833. The company has a market capitalization of C$70.69 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 1.01 and a beta of 1.06. The firm’s 50-day simple moving average is C$42.59 and its 200-day simple moving average is C$43.09. Manulife Financial has a 1 year low of C$31.24 and a 1 year high of C$46.42.

Insider Buying and Selling

In other Manulife Financial news, Director Brooks Tingle sold 3,866 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of C$43.43, for a total value of C$167,882.21. Also, Senior Officer Steve Finch sold 11,598 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of C$43.43, for a total transaction of C$503,646.63. In the last three months, insiders sold 18,683 shares of company stock valued at $816,102. Company 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.