Manulife Financial Co. (TSE:MFC) Receives C$57.00 Consensus Price Target from Brokerages

Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has been given a consensus rating of “Buy” by the nine brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$57.00.

MFC has been the topic of a number of research reports. TD cut their target price on shares of Manulife Financial from C$59.00 to C$58.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. 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 report on Thursday, May 14th. Desjardins set a C$58.00 target price on shares of Manulife Financial and gave the company a “buy” rating in a research report 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 report on Friday, February 13th. Finally, TD Securities cut their target price on shares of Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th.

Insider Transactions at Manulife Financial

In other news, Director Eileen Cloherty sold 6,500 shares of Manulife Financial stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of C$53.45, for a total value of C$347,425.00. Following the transaction, the director owned 3,412 shares of the company’s stock, valued at C$182,371.40. The trade was a 65.58% decrease in their position. Also, Director Aimee Decamillo sold 18,000 shares of Manulife Financial stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of C$51.77, for a total transaction of C$931,860.00. Following the completion of the transaction, the director directly owned 4,996 shares in the company, valued at approximately C$258,642.92. The trade was a 78.27% decrease in their position. Over the last 90 days, insiders have sold 80,334 shares of company stock worth $4,254,004. 0.03% of the stock is owned by corporate insiders.

Manulife Financial Price Performance

MFC stock opened at C$53.03 on Friday. The company has a market capitalization of C$88.50 billion, a PE ratio of 15.28, a P/E/G ratio of 1.01 and a beta of 0.74. Manulife Financial has a 12 month low of C$41.08 and a 12 month high of C$55.34. The firm’s 50-day moving average is C$51.79 and its 200 day moving average is C$50.28.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results on Wednesday, May 13th. The financial services provider reported C$1.06 EPS for the quarter. The business had revenue of C$2.15 billion for the quarter. Manulife Financial had a net margin of 11.97% and a return on equity of 12.65%. Sell-side analysts forecast that Manulife Financial will post 3.6104452 EPS for the current fiscal year.

About Manulife Financial

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.