Jefferies Financial Group Issues Pessimistic Forecast for Manulife Financial (TSE:MFC) Stock Price

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC had its price objective cut by research analysts at Jefferies Financial Group from C$51.00 to C$46.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Jefferies Financial Group's price objective would indicate a potential upside of 9.71% from the company's current price.

A number of other brokerages have also weighed in on MFC. 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. CIBC boosted their price target on Manulife Financial from C$47.00 to C$48.00 in a research note on Friday, February 21st. 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, TD Securities lifted their price objective on Manulife Financial from C$48.00 to C$49.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Manulife Financial has an average rating of "Moderate Buy" and an average price target of C$46.10.

Manulife Financial Trading Up 0.2 %

TSE:MFC traded up C$0.08 on Monday, reaching C$41.93. 10,791,235 shares of the stock traded hands, compared to its average volume of 6,854,233. The company has a market capitalization of C$73.55 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.01 and a beta of 1.06. Manulife Financial has a 12 month low of C$31.92 and a 12 month high of C$46.42. The company's fifty day simple moving average is C$42.23 and its 200 day simple moving average is C$43.08.

Insider Transactions at Manulife Financial

In other news, Director Kenneth Michael Ross sold 3,219 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of C$44.91, for a total value of C$144,572.68. Also, Director Brooks Tingle sold 3,866 shares of Manulife Financial stock in a transaction on Monday, February 24th. The shares were sold at an average price of C$43.43, for a total transaction of C$167,882.21. Insiders have sold 18,683 shares of company stock worth $816,102 in the last 90 days. 0.03% of the stock is currently owned by insiders.

Manulife Financial Company Profile

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.