TD Securities Boosts Manulife Financial (TSE:MFC) Price Target to C$60.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target hoisted by stock analysts at TD Securities from C$57.00 to C$60.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. TD Securities’ price target indicates a potential upside of 16.05% from the stock’s previous close.

A number of other equities research analysts have also commented on MFC. UBS Group raised Manulife Financial to a “strong-buy” rating in a research report on Thursday, October 16th. National Bankshares increased their price objective on shares of Manulife Financial from C$47.00 to C$52.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Cibc Captl Mkts upgraded Manulife Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. Royal Bank Of Canada boosted their price target on shares of Manulife Financial from C$49.00 to C$52.00 in a report on Friday, November 14th. Finally, CIBC raised shares of Manulife Financial from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from C$50.00 to C$58.00 in a research report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Manulife Financial presently has an average rating of “Buy” and an average price target of C$53.13.

Manulife Financial Trading Up 1.2%

Shares of MFC traded up C$0.61 during trading hours on Wednesday, reaching C$51.70. The stock had a trading volume of 1,205,675 shares, compared to its average volume of 4,859,454. The firm has a 50-day simple moving average of C$49.22 and a 200 day simple moving average of C$45.30. Manulife Financial has a 12 month low of C$36.93 and a 12 month high of C$52.25. The company has a market capitalization of C$86.71 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 1.01 and a beta of 1.01.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings data on Wednesday, November 12th. The financial services provider reported C$1.16 earnings per share for the quarter. Manulife Financial had a net margin of 12.52% and a return on equity of 11.75%. The firm had revenue of C$26.23 billion for the quarter. On average, equities analysts forecast that Manulife Financial will post 3.6104452 EPS for the current year.

Insider Buying and Selling at Manulife Financial

In other news, insider Shamus Edward Weiland sold 88,500 shares of Manulife Financial stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of C$48.95, for a total value of C$4,332,075.00. Following the completion of the transaction, the insider directly owned 53,495 shares in the company, valued at approximately C$2,618,580.25. The trade was a 62.33% decrease in their ownership of the stock. Also, insider Rahim Hirji sold 25,048 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of C$48.25, for a total value of C$1,208,566.00. Following the sale, the insider directly owned 31,315 shares in the company, valued at C$1,510,948.75. This trade represents a 44.44% decrease in their position. 0.03% of the stock is currently owned by insiders.

Manulife Financial Company Profile

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada’s Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.