Manulife Financial (TSE:MFC) Stock Price Expected to Rise, Barclays Analyst Says

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target hoisted by research analysts at Barclays from C$39.00 to C$40.00 in a report issued on Friday,BayStreet.CA reports. Barclays‘s price objective points to a potential downside of 12.09% from the stock’s current price.

A number of other research analysts have also recently weighed in on MFC. Royal Bank of Canada raised their price target on Manulife Financial from C$38.00 to C$39.00 in a research report on Friday, August 9th. Dbs Bank upgraded shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Cormark increased their price target on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday. CIBC raised their price objective on shares of Manulife Financial from C$42.00 to C$46.00 in a research note on Friday, November 8th. Finally, Jefferies Financial Group upped their target price on Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$43.45.

Manulife Financial Price Performance

Shares of MFC stock traded down C$0.16 during midday trading on Friday, reaching C$45.50. 8,085,345 shares of the company traded hands, compared to its average volume of 6,487,085. The firm has a market cap of C$80.54 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. The firm’s 50 day simple moving average is C$41.49 and its two-hundred day simple moving average is C$37.80. Manulife Financial has a 1-year low of C$26.05 and a 1-year high of C$46.42.

Insider Buying and Selling

In other news, Director Brooks Tingle sold 3,866 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total value of C$178,102.75. Also, Director Tin Ku sold 2,166 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total value of C$81,116.70. Following the completion of the sale, the director now owns 253 shares of the company’s stock, valued at approximately C$9,474.85. This trade represents a 89.54 % decrease in their position. In the last ninety days, insiders have sold 17,630 shares of company stock valued at $793,528. 0.03% of the stock is currently owned by company insiders.

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.