Manulife Financial (TSE:MFC) Price Target Raised to C$38.00

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC had its price target raised by research analysts at TD Securities from C$37.00 to C$38.00 in a research note issued on Thursday, BayStreet.CA reports. The firm presently has a "buy" rating on the financial services provider's stock. TD Securities' price objective indicates a potential upside of 7.99% from the stock's previous close.

Several other research analysts also recently commented on MFC. BMO Capital Markets raised their target price on Manulife Financial from C$35.00 to C$40.00 in a research note on Monday, April 8th. Evercore raised their target price on Manulife Financial from C$30.00 to C$36.00 in a research note on Tuesday, February 20th. National Bankshares upgraded Manulife Financial from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from C$34.00 to C$38.00 in a research note on Thursday. CIBC raised their target price on Manulife Financial from C$30.00 to C$34.00 and gave the stock a "neutral" rating in a research note on Friday, February 16th. Finally, Desjardins upgraded Manulife Financial from a "hold" rating to a "buy" rating and raised their target price for the stock from C$29.00 to C$36.00 in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$36.90.

Manulife Financial Stock Performance

Shares of MFC stock traded up C$1.59 on Thursday, hitting C$35.19. 7,403,112 shares of the stock were exchanged, compared to its average volume of 6,154,472. The company has a current ratio of 3.79, a quick ratio of 2.58 and a debt-to-equity ratio of 45.69. The firm has a market capitalization of C$63.34 billion, a PE ratio of 13.48, a P/E/G ratio of 12.56 and a beta of 1.09. Manulife Financial has a one year low of C$23.69 and a one year high of C$35.26. The firm's 50 day moving average is C$32.61 and its two-hundred day moving average is C$29.76.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last posted its quarterly earnings results on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share for the quarter, topping the consensus estimate of C$0.84 by C$0.08. The company had revenue of C$14.92 billion during the quarter, compared to the consensus estimate of C$10.24 billion. Manulife Financial had a return on equity of 11.57% and a net margin of 20.05%. Sell-side analysts expect that Manulife Financial will post 3.6797312 earnings per share for the current fiscal year.

Insider Buying and Selling at Manulife Financial

In related news, Senior Officer Steve Finch sold 10,294 shares of the firm's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$337,231.44. In related news, Senior Officer Steve Finch sold 10,294 shares of the firm's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$337,231.44. Also, Director Brooks Tingle sold 3,317 shares of the firm's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$108,664.92. Insiders own 0.02% of the company's stock.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.