Manulife Financial (TSE:MFC) Price Target Raised to C$54.00 at TD Securities

Key Points

• TD Securities has raised Manulife Financial's price target from C$50.00 to C$54.00, indicating a potential upside of 20.00% from its current price.
• Other analysts have mixed ratings for Manulife, with Barclays increasing their target to C$48.00 while Royal Bank of Canada and National Bankshares reduced their targets.
• Insider Paul Lorentz sold 178,425 shares of the company, marking a 69.06% decrease in his position, as part of broader insider selling totaling C$7,516,321 in the last three months.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC had its target price lifted by investment analysts at TD Securities from C$50.00 to C$54.00 in a research report issued on Wednesday,BayStreet.CA reports. TD Securities' price target points to a potential upside of 20.00% from the company's current price.

Other equities research analysts have also issued reports about the company. Barclays raised their price objective on Manulife Financial from C$47.00 to C$48.00 and gave the company an "equal weight" rating in a research note on Wednesday. Royal Bank Of Canada lowered their price objective on Manulife Financial from C$51.00 to C$49.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Finally, National Bankshares lowered their price objective on Manulife Financial from C$48.00 to C$47.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Manulife Financial presently has an average rating of "Moderate Buy" and a consensus target price of C$48.50.

Manulife Financial Price Performance

Shares of TSE:MFC traded up C$0.17 during trading on Wednesday, hitting C$45.00. The company had a trading volume of 1,080,757 shares, compared to its average volume of 7,341,249. The stock has a market cap of C$76.25 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 1.01 and a beta of 0.93. Manulife Financial has a one year low of C$36.93 and a one year high of C$46.42. The company has a fifty day simple moving average of C$42.72 and a two-hundred day simple moving average of C$42.65.

Insider Activity

In other Manulife Financial news, insider Paul Lorentz sold 178,425 shares of Manulife Financial stock in a transaction on Thursday, August 14th. The stock was sold at an average price of C$41.90, for a total transaction of C$7,476,007.50. Following the completion of the sale, the insider directly owned 79,930 shares of the company's stock, valued at C$3,349,067. The trade was a 69.06% decrease in their position. Over the last three months, insiders sold 179,582 shares of company stock worth $7,516,321. 0.03% of the stock is currently owned by company insiders.

About Manulife Financial

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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