Manulife Financial (TSE:MFC) Given New C$72.00 Price Target at TD

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target hoisted by stock analysts at TD from C$69.00 to C$72.00 in a research note issued on Thursday, BayStreet reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD‘s price target suggests a potential upside of 15.48% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the company. Scotiabank downgraded Manulife Financial from a “sector outperform” rating to a “hold” rating and set a C$67.00 price objective on the stock. in a research report on Wednesday, October 28th. Scotia boosted their target price on Manulife Financial from C$61.00 to C$67.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 7th. Barclays boosted their target price on Manulife Financial from C$56.00 to C$59.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Jefferies Financial Group upped their target price on Manulife Financial from C$61.00 to C$70.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Finally, Desjardins raised their price target on Manulife Financial from C$63.00 to C$68.00 and gave the company a “buy” rating in a report on Friday, August 7th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$67.00.

Manulife Financial Price Performance

TSE MFC traded down C$1.82 on Thursday, hitting C$62.35. The stock had a trading volume of 2,790,044 shares, compared to its average volume of 5,735,612. Manulife Financial has a 52-week low of C$44.23 and a 52-week high of C$64.60. The company has a debt-to-equity ratio of 26.52, a quick ratio of 2.58 and a current ratio of 2.36. The company has a market capitalization of C$103.15 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 1.01 and a beta of 0.59. The firm has a 50-day moving average of C$61.40 and a 200-day moving average of C$55.72.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported C$1.09 EPS for the quarter. The firm had revenue of C$20.34 billion during the quarter. Manulife Financial had a net margin of 11.62% and a return on equity of 12.98%. Equities analysts expect that Manulife Financial will post 3.61 EPS for the current year.

Insider Activity at Manulife Financial

In other news, insider Patrick David Graham sold 6,843 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of C$62.06, for a total transaction of C$424,676.58. 0.03% of the stock is owned by insiders.

About Manulife Financial

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.