Manulife Financial (TSE:MFC) Stock Gets Price Target Boost from National Bank Financial

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target increased by research analysts at National Bank Financial from C$68.00 to C$69.00 in a report released on Thursday, BayStreet reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. National Bank Financial‘s target price points to a potential upside of 13.11% from the company’s previous close.

A number of other research analysts have also commented on MFC. Canadian Imperial Bank of Commerce upped their price target on shares of Manulife Financial from C$61.00 to C$69.00 in a research note on Wednesday, July 15th. Jefferies Financial Group boosted their price objective on Manulife Financial from C$61.00 to C$70.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Scotia upped their target price on Manulife Financial from C$61.00 to C$67.00 and gave the company a “sector outperform” rating in a research report on Friday, August 7th. Desjardins upped their target price on Manulife Financial from C$63.00 to C$68.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, BMO Capital Markets increased their target price on Manulife Financial from C$67.00 to C$70.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Nine 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of C$67.00.

Manulife Financial Stock Performance

Shares of TSE:MFC traded down C$0.63 on Thursday, hitting C$61.00. The company had a trading volume of 8,202,669 shares, compared to its average volume of 5,766,087. Manulife Financial has a 1-year low of C$44.23 and a 1-year high of C$64.60. The stock has a market cap of C$100.77 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 1.01 and a beta of 0.53. The stock has a 50 day moving average price of C$61.46 and a 200 day moving average price of C$55.82. The company has a current ratio of 2.36, a quick ratio of 2.58 and a debt-to-equity ratio of 26.52.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results on Wednesday, August 5th. The financial services provider reported C$1.09 earnings per share (EPS) for the quarter. The company 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%. Analysts expect that Manulife Financial will post 3.61 EPS for the current year.

Insider Activity

In related news, insider Patrick David Graham sold 6,843 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of C$62.06, for a total transaction of C$424,676.58. Company insiders own 0.03% of the company’s stock.

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.