Manulife Financial (TSE:MFC) Given New C$47.00 Price Target at Barclays

Key Points

• Barclays has increased Manulife Financial's price target from C$46.00 to C$47.00, indicating a potential upside of 13.53% from the stock's previous close.
• Several analysts have different ratings and target prices for Manulife, with CIBC lowering their target from C$48.00 to C$46.00, while Royal Bank of Canada set a target at C$51.00.
• Insider trading activity includes Director Anthony Alex Silva purchasing 2,200 shares, while another Director sold 5,545 shares recently, highlighting ongoing insider movements within the company.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC had its price objective hoisted by equities research analysts at Barclays from C$46.00 to C$47.00 in a research note issued on Thursday,BayStreet.CA reports. The firm currently has an "equal weight" rating on the financial services provider's stock. Barclays's price objective points to a potential upside of 13.53% from the stock's previous close.

A number of other research firms have also weighed in on MFC. CIBC decreased their target price on Manulife Financial from C$48.00 to C$46.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Royal Bank Of Canada set a C$51.00 target price on shares of Manulife Financial and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. Scotiabank lowered their target price on Manulife Financial from C$53.00 to C$50.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Jefferies Financial Group lowered their price target on Manulife Financial from C$51.00 to C$46.00 in a report on Monday, April 21st. Finally, National Bankshares lowered their target price on Manulife Financial from C$48.00 to C$47.00 and set an "outperform" rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of C$48.00.

Manulife Financial Stock Performance

Shares of TSE MFC traded down C$1.60 during mid-day trading on Thursday, hitting C$41.40. 5,012,564 shares of the stock were exchanged, compared to its average volume of 7,562,422. The stock's fifty day simple moving average is C$42.79 and its two-hundred day simple moving average is C$42.75. The company has a market cap of C$72.62 billion, a P/E ratio of 12.88, a PEG ratio of 1.01 and a beta of 1.06. Manulife Financial has a twelve month low of C$33.23 and a twelve month high of C$46.42.

Insider Activity at Manulife Financial

In other Manulife Financial news, Director Anthony Alex Silva purchased 2,200 shares of the firm's stock in a transaction on Friday, May 30th. The stock was purchased at an average cost of C$43.77 per share, for a total transaction of C$96,301.92. Also, Director Brooks Tingle sold 5,545 shares of Manulife Financial stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of C$44.22, for a total transaction of C$245,196.57. Over the last quarter, insiders have sold 62,070 shares of company stock valued at $2,744,604. Insiders own 0.03% of the company's stock.

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.

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