Manulife Financial (TSE:MFC) Given New C$46.00 Price Target at Jefferies Financial Group

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective decreased by research analysts at Jefferies Financial Group from C$51.00 to C$46.00 in a note issued to investors on Monday,BayStreet.CA reports. Jefferies Financial Group’s price objective would indicate a potential upside of 17.89% from the company’s current price.

MFC has been the subject of several other reports. TD Securities raised their price target on Manulife Financial from C$48.00 to C$49.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Barclays decreased their price objective on shares of Manulife Financial from C$49.00 to C$45.00 in a report on Friday, April 11th. Royal Bank of Canada set a C$51.00 price objective on Manulife Financial and gave the company an “outperform” rating in a research report on Tuesday, April 15th. Finally, CIBC boosted their price target on Manulife Financial from C$47.00 to C$48.00 in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$46.10.

Manulife Financial Price Performance

TSE MFC traded down C$0.63 on Monday, reaching C$39.02. 1,201,376 shares of the company’s stock traded hands, compared to its average volume of 6,874,153. The stock has a market cap of C$68.44 billion, a PE ratio of 12.14, a P/E/G ratio of 1.01 and a beta of 1.06. Manulife Financial has a 12 month low of C$31.52 and a 12 month high of C$46.42. The stock has a 50-day simple moving average of C$42.35 and a 200 day simple moving average of C$43.09.

Insider Buying and Selling at Manulife Financial

In related news, Senior Officer Steve Finch sold 11,598 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of C$43.43, for a total transaction of C$503,646.63. Also, Director Kenneth Michael Ross sold 3,219 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of C$44.91, for a total value of C$144,572.68. Over the last quarter, insiders sold 18,683 shares of company stock valued at $816,102. Corporate insiders own 0.03% of the company’s stock.

About Manulife Financial

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.