Manulife Financial (TSE:MFC) Price Target Raised to C$47.00 at CIBC

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target upped by investment analysts at CIBC from C$46.00 to C$47.00 in a note issued to investors on Thursday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 6.36% from the company’s current price.

A number of other research analysts also recently issued reports on the stock. Cormark boosted their target price on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. Jefferies Financial Group upped their target price on Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. TD Securities lifted their price target on Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays upped their price objective on Manulife Financial from C$40.00 to C$47.00 in a research report on Monday, January 6th. Finally, National Bankshares lifted their target price on shares of Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$44.55.

Manulife Financial Stock Performance

MFC traded up C$0.37 on Thursday, reaching C$44.19. 541,952 shares of the stock were exchanged, compared to its average volume of 3,020,463. The company’s 50-day moving average price is C$44.25 and its 200 day moving average price is C$40.76. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. The firm has a market capitalization of C$78.22 billion, a PE ratio of 18.80, a PEG ratio of 1.01 and a beta of 1.06. Manulife Financial has a fifty-two week low of C$28.95 and a fifty-two week high of C$46.42.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its earnings results on Wednesday, November 6th. The financial services provider reported C$1.00 EPS for the quarter, beating analysts’ consensus estimates of C$0.95 by C$0.05. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. During the same period last year, the company earned $0.92 EPS. As a group, sell-side analysts forecast that Manulife Financial will post 3.6104452 EPS for the current fiscal year.

Insider Buying and Selling at Manulife Financial

In related news, Senior Officer James D. Gallagher sold 57,064 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of C$44.80, for a total transaction of C$2,556,638.39. Also, Director Kenneth Michael Ross sold 4,243 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of C$45.80, for a total value of C$194,315.82. Insiders sold 77,771 shares of company stock valued at $3,508,584 over the last quarter. 0.03% of the stock is currently owned by insiders.

Manulife Financial Company Profile

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.