Manulife Financial (TSE:MFC) Price Target Raised to C$49.00

Manulife Financial (TSE:MFC - Get Free Report) NYSE: MFC had its price target increased by analysts at TD Securities from C$48.00 to C$49.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the financial services provider's stock. TD Securities' price objective points to a potential upside of 13.53% from the company's current price.

A number of other equities analysts also recently commented on MFC. Jefferies Financial Group upped their price objective on shares of Manulife Financial from C$50.00 to C$51.00 in a research report on Thursday, January 30th. CIBC raised their price objective on shares of Manulife Financial from C$46.00 to C$47.00 in a research report on Thursday, January 30th. Barclays boosted their target price on Manulife Financial from C$40.00 to C$47.00 in a research report on Monday, January 6th. Scotiabank raised their price target on Manulife Financial from C$48.00 to C$49.00 in a report on Friday, November 8th. Finally, National Bankshares upped their price objective on Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$45.60.

Manulife Financial Price Performance

Shares of MFC stock traded down C$1.98 during midday trading on Thursday, hitting C$43.16. The company had a trading volume of 6,555,302 shares, compared to its average volume of 5,565,881. Manulife Financial has a 52-week low of C$31.24 and a 52-week high of C$46.42. The company's 50 day simple moving average is C$43.51 and its 200 day simple moving average is C$41.53. The stock has a market cap of C$75.70 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 1.01 and a beta of 1.06.

Insider Transactions at Manulife Financial

In other news, Director Anthony Alex Silva sold 1,000 shares of Manulife Financial stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of C$45.22, for a total transaction of C$45,218.70. Also, Senior Officer James D. Gallagher sold 57,064 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total transaction of C$2,556,638.39. Insiders sold a total of 62,307 shares of company stock valued at $2,796,173 in the last ninety days. Corporate 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.