Manulife Financial (TSE:MFC) Given a C$55.00 Price Target at Desjardins

Manulife Financial (TSE:MFC) (NYSE:MFC) has been assigned a C$55.00 price target by Desjardins in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Desjardins’ price target would indicate a potential upside of 10.46% from the stock’s previous close.

Several other research firms have also commented on MFC. TD Securities lifted their price target on Manulife Financial from C$54.00 to C$57.00 in a report on Thursday, November 13th. UBS Group upgraded shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, October 16th. National Bankshares boosted their target price on shares of Manulife Financial from C$47.00 to C$52.00 and gave the company an “outperform” rating in a report on Monday, October 20th. CIBC raised their price target on shares of Manulife Financial from C$49.00 to C$50.00 in a report on Friday, November 14th. Finally, Royal Bank Of Canada upped their price objective on Manulife Financial from C$49.00 to C$52.00 in a report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$51.25.

Manulife Financial Stock Up 1.4%

MFC traded up C$0.69 during trading on Thursday, reaching C$49.79. The company’s stock had a trading volume of 1,539,646 shares, compared to its average volume of 7,124,685. The company has a market cap of C$83.71 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 1.01 and a beta of 0.94. The firm has a fifty day simple moving average of C$47.18 and a two-hundred day simple moving average of C$44.32. Manulife Financial has a 1 year low of C$36.93 and a 1 year high of C$49.85.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings results on Wednesday, November 12th. The financial services provider reported C$1.16 earnings per share (EPS) for the quarter. Manulife Financial had a return on equity of 11.75% and a net margin of 12.52%.The business had revenue of C$26.23 billion during the quarter. As a group, equities analysts forecast that Manulife Financial will post 3.6104452 EPS for the current fiscal year.

Insiders Place Their Bets

In other Manulife Financial news, insider Rahim Hirji sold 25,048 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of C$48.25, for a total value of C$1,208,566.00. Following the sale, the insider owned 31,315 shares of the company’s stock, valued at C$1,510,948.75. The trade was a 44.44% decrease in their ownership of the stock. Company insiders own 0.03% of the company’s stock.

Manulife Financial Company Profile

Manulife provides life insurance and wealth management products and services to individuals and group customers in Canada, the United States, and Asia. Manulife is one of Canada’s Big Three Life Insurance companies (the other two are Sun Life and Great West Life). As of Dec. 31, 2021, Manulife reported assets under management or administration of about CAD $1.4 trillion.