Manulife Financial (TSE:MFC) Price Target Raised to C$46.00 at CIBC

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC had its price target raised by investment analysts at CIBC from C$42.00 to C$46.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC's price target would suggest a potential upside of 4.03% from the stock's current price.

MFC has been the subject of a number of other reports. Jefferies Financial Group boosted their price target on Manulife Financial from C$42.00 to C$47.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Dbs Bank raised shares of Manulife Financial to a "strong-buy" rating in a report on Thursday, August 8th. TD Securities boosted their price objective on shares of Manulife Financial from C$45.00 to C$48.00 and gave the company a "buy" rating in a research report on Thursday. Royal Bank of Canada raised their target price on Manulife Financial from C$38.00 to C$39.00 in a report on Friday, August 9th. Finally, Barclays set a C$39.00 price target on Manulife Financial and gave the stock an "equal weight" rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Manulife Financial presently has a consensus rating of "Moderate Buy" and an average price target of C$42.27.

Manulife Financial Stock Performance

Shares of MFC traded down C$0.54 during mid-day trading on Friday, hitting C$44.22. 852,346 shares of the company traded hands, compared to its average volume of 6,369,308. Manulife Financial has a 1 year low of C$25.39 and a 1 year high of C$45.68. 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 has a 50-day moving average price of C$39.84 and a two-hundred day moving average price of C$36.88. The stock has a market cap of C$78.27 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 1.01 and a beta of 1.06.

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$0.88 by C$0.03. The firm had revenue of C$12.88 billion for 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%. Equities analysts anticipate that Manulife Financial will post 3.6104452 earnings per share for the current year.

Insider Buying and Selling at Manulife Financial

In other news, Director Matthew Lyman Macinnis sold 6,708 shares of the firm's stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total transaction of C$232,566.36. In other Manulife Financial news, Director Matthew Lyman Macinnis sold 6,708 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of C$34.67, for a total transaction of C$232,566.36. Also, Director Tin Ku sold 2,166 shares of the business's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the completion of the sale, the director now owns 253 shares in the company, valued at approximately C$9,474.85. This trade represents a 0.00 % decrease in their ownership of the stock. In the last ninety days, insiders have sold 68,821 shares of company stock worth $2,455,596. Insiders own 0.03% 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.

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