Manulife Financial (TSE:MFC) PT Raised to C$30.00 at TD Securities

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price lifted by research analysts at TD Securities from C$28.00 to C$30.00 in a note issued to investors on Tuesday, January 9th. The brokerage presently has a “hold” rating on the financial services provider’s stock. TD Securities’ price target suggests a potential upside of 18.72% from the stock’s current price.

A number of other research analysts have also weighed in on MFC. Scotiabank raised their target price on shares of Manulife Financial from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. Barclays lifted their price target on shares of Manulife Financial from C$29.00 to C$30.00 in a research report on Monday, November 13th. Desjardins lifted their price target on shares of Manulife Financial from C$28.00 to C$30.00 in a research report on Monday, November 13th. BMO Capital Markets reaffirmed an “outperform” rating and set a C$31.00 price target on shares of Manulife Financial in a research report on Friday, November 10th. Finally, National Bank Financial lifted their price target on shares of Manulife Financial from C$27.00 to C$29.00 and gave the company a “sector perform” rating in a research report on Thursday, November 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of C$30.10.

Manulife Financial (MFC) traded down C$0.62 on Tuesday, reaching C$25.27. 4,583,500 shares of the company’s stock were exchanged, compared to its average volume of 2,880,000. Manulife Financial has a twelve month low of C$22.39 and a twelve month high of C$27.60. The stock has a market cap of $50,080.00, a price-to-earnings ratio of 13.88 and a beta of 0.92.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its earnings results on Wednesday, November 8th. The financial services provider reported C$0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.51 by C$0.02. Manulife Financial had a net margin of 10.53% and a return on equity of 10.81%. The business had revenue of C$11.93 billion for the quarter.

In related news, Director P. Thomas Jenkins sold 4,500 shares of Manulife Financial stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of C$21.09, for a total value of C$94,905.00. Also, Director Rocco Gori bought 60,694 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was bought at an average price of C$26.70 per share, with a total value of C$1,620,529.80.

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Manulife Financial Company Profile

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

Analyst Recommendations for Manulife Financial (TSE:MFC)

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