Manulife Financial (TSE:MFC) Price Target Cut to C$48.00 by Analysts at National Bankshares

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC had its target price dropped by analysts at National Bankshares from C$49.00 to C$48.00 in a research note issued to investors on Friday,BayStreet.CA reports. National Bankshares' price target points to a potential upside of 15.14% from the stock's current price.

MFC has been the subject of a number of other reports. CIBC reduced their price target on shares of Manulife Financial from C$48.00 to C$46.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Barclays cut their price objective on shares of Manulife Financial from C$49.00 to C$45.00 in a research report on Friday, April 11th. Royal Bank Of Canada set a C$51.00 price objective on shares of Manulife Financial and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Scotiabank cut their price objective on shares of Manulife Financial from C$53.00 to C$50.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, Jefferies Financial Group cut their price objective on shares of Manulife Financial from C$51.00 to C$46.00 in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Manulife Financial presently has an average rating of "Moderate Buy" and an average price target of C$47.88.

Manulife Financial Trading Down 0.7%

Shares of MFC traded down C$0.30 during midday trading on Friday, hitting C$41.69. The stock had a trading volume of 1,081,969 shares, compared to its average volume of 7,788,356. Manulife Financial has a fifty-two week low of C$32.87 and a fifty-two week high of C$46.42. The business has a 50-day simple moving average of C$43.31 and a two-hundred day simple moving average of C$42.96. The firm has a market cap of C$73.12 billion, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06.

Insider Buying and Selling

In other news, Director Brooks Tingle sold 5,545 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of C$44.22, for a total value of C$245,196.57. Also, Senior Officer Rahim Hirji sold 17,849 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of C$44.22, for a total transaction of C$789,272.07. Over the last 90 days, insiders have sold 62,070 shares of company stock valued at $2,744,604. 0.03% of the stock is owned by corporate 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.

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