Manulife Financial Co. (MFC) Receives Consensus Recommendation of “Buy” from Analysts
Manulife Financial Co. (TSE:MFC) (NYSE:MFC) has been assigned a consensus recommendation of “Buy” from the ten research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$28.35.
A number of research analysts have commented on the stock. TD Securities upped their target price on shares of Manulife Financial from C$29.00 to C$30.00 in a research report on Thursday, November 8th. CIBC upped their target price on shares of Manulife Financial from C$25.00 to C$26.50 in a research report on Sunday, November 4th. Evercore ISI reaffirmed an “in-line” rating and issued a C$26.00 target price on shares of Manulife Financial in a research report on Thursday, November 8th. National Bank Financial decreased their target price on shares of Manulife Financial from C$31.00 to C$30.00 and set an “outperform” rating on the stock in a research report on Thursday, August 9th. Finally, Desjardins reduced their price target on shares of Manulife Financial from C$29.00 to C$27.00 in a research report on Tuesday, October 16th.
TSE MFC opened at C$21.77 on Tuesday. Manulife Financial has a 12 month low of C$19.63 and a 12 month high of C$27.77.
In other Manulife Financial news, insider Steve Finch bought 3,000 shares of the stock in a transaction dated Thursday, November 15th. The shares were acquired at an average cost of C$16.63 per share, for a total transaction of C$49,890.00. Also, insider Rahim Hirji sold 22,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of C$24.30, for a total transaction of C$534,600.00.
About Manulife Financial
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance through insurance agents, brokers, banks, financial planners, and direct marketing.
Further Reading: Balanced Fund
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