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

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC had its price objective hoisted by Barclays from C$40.00 to C$47.00 in a research note issued to investors on Monday,BayStreet.CA reports. Barclays's price target indicates a potential upside of 6.41% from the company's current price.

A number of other research firms also recently issued reports on MFC. CIBC increased their target price on shares of Manulife Financial from C$42.00 to C$46.00 in a research report on Friday, November 8th. Cormark increased their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. 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. Scotiabank upped their price target on shares of Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. Finally, Jefferies Financial Group raised 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$44.09.

Manulife Financial Trading Down 0.3 %

Manulife Financial stock traded down C$0.13 during midday trading on Monday, reaching C$44.17. The stock had a trading volume of 4,508,609 shares, compared to its average volume of 2,861,324. The stock has a market capitalization of C$78.18 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68. The stock's 50-day simple moving average is C$44.19 and its 200 day simple moving average is C$39.85. Manulife Financial has a twelve month low of C$28.06 and a twelve month high of C$46.42.

Insider Activity

In related news, Senior Officer Steve Finch sold 11,598 shares of the business's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total value of C$534,308.26. Also, Director Brooks Tingle sold 3,866 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of C$46.07, for a total value of C$178,102.75. In the last three months, insiders sold 77,771 shares of company stock worth $3,508,584. 0.03% of the stock is currently 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.