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

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective hoisted by research analysts at National Bankshares from C$45.00 to C$47.00 in a note issued to investors on Thursday,BayStreet.CA reports. National Bankshares’ price target indicates a potential upside of 4.35% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada boosted their price target on shares of Manulife Financial from C$38.00 to C$39.00 in a research note on Friday, August 9th. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays set a C$39.00 price target on Manulife Financial and gave the stock an “equal weight” rating in a research note on Thursday, September 5th. Jefferies Financial Group increased their price objective on Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, TD Securities boosted their target price on Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Manulife Financial has a consensus rating of “Moderate Buy” and an average price target of C$41.82.

Manulife Financial Price Performance

Shares of MFC stock traded up C$1.47 on Thursday, reaching C$45.04. The company’s stock had a trading volume of 1,794,364 shares, compared to its average volume of 6,374,203. The company has a market capitalization of C$79.72 billion, a P/E ratio of 19.17, a PEG ratio of 1.01 and a beta of 1.06. Manulife Financial has a 12-month low of C$24.90 and a 12-month high of C$45.68. The stock’s 50 day simple moving average is C$39.84 and its 200-day simple moving average is C$36.88. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.88 by C$0.03. The firm had revenue of C$12.88 billion during the quarter, compared to the consensus estimate of C$12.27 billion. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. As a group, equities analysts predict that Manulife Financial will post 3.6104452 earnings per share for the current fiscal year.

Insider Activity at Manulife Financial

In other Manulife Financial news, Director Tin Ku sold 2,166 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total value of C$81,116.70. Following the sale, the director now owns 253 shares of the company’s stock, valued at C$9,474.85. This trade represents a 0.00 % decrease in their position. In other news, Director Tin Ku sold 2,166 shares of Manulife Financial stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total value of C$81,116.70. Following the sale, the director now directly owns 253 shares in the company, valued at approximately C$9,474.85. This trade represents a 0.00 % decrease in their position. Also, Senior Officer Steve Finch sold 11,599 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total transaction of C$414,439.23. Insiders sold 68,821 shares of company stock worth $2,455,596 in the last three months. 0.03% of the stock is owned by insiders.

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.