TD Cuts Manulife Financial (TSE:MFC) Price Target to C$58.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price decreased by equities research analysts at TD from C$59.00 to C$58.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD’s target price would indicate a potential upside of 12.27% from the company’s previous close.

Several other equities research analysts also recently weighed in on MFC. Royal Bank Of Canada raised their target price on shares of Manulife Financial from C$52.00 to C$55.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Desjardins set a C$58.00 target price on shares of Manulife Financial and gave the company a “buy” rating in a research note on Friday, April 17th. Scotiabank raised their target price on shares of Manulife Financial from C$55.00 to C$56.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. National Bank Financial raised their target price on shares of Manulife Financial from C$56.00 to C$59.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, TD Securities lowered their price objective on shares of Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$57.00.

Manulife Financial Stock Down 5.4%

MFC traded down C$2.96 during trading on Thursday, hitting C$51.66. The stock had a trading volume of 5,664,713 shares, compared to its average volume of 5,979,166. The company has a market capitalization of C$86.21 billion, a PE ratio of 16.83, a PEG ratio of 1.01 and a beta of 0.74. Manulife Financial has a twelve month low of C$41.08 and a twelve month high of C$55.34. The company has a debt-to-equity ratio of 28.80, a quick ratio of 2.58 and a current ratio of 2.12. The stock has a 50 day simple moving average of C$49.90 and a two-hundred day simple moving average of C$49.61.

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. The company had revenue of C$2.15 billion during the quarter. Manulife Financial had a net margin of 10.91% and a return on equity of 11.34%. On average, research analysts predict that Manulife Financial will post 3.6104452 earnings per share for the current year.

Insider Activity at Manulife Financial

In other news, Director Adam Thomas Wise sold 3,500 shares of Manulife Financial stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of C$46.47, for a total transaction of C$162,645.00. Following the completion of the sale, the director directly owned 2,497 shares in the company, valued at approximately C$116,035.59. The trade was a 58.36% decrease in their ownership of the stock. Insiders own 0.03% of the company’s stock.

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.