Manulife Financial (TSE:MFC) Given New C$69.00 Price Target at National Bank Financial

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price raised by National Bank Financial from C$59.00 to C$69.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s price target indicates a potential upside of 13.92% from the stock’s previous close.

A number of other analysts have also weighed in on the company. TD upped their price objective on Manulife Financial from C$58.00 to C$65.00 and gave the stock a “buy” rating in a research report on Tuesday. Canadian Imperial Bank of Commerce upped their price target on Manulife Financial from C$61.00 to C$69.00 in a report on Wednesday, July 15th. Desjardins set a C$58.00 price target on Manulife Financial and gave the company a “buy” rating in a research report on Friday, April 17th. Jefferies Financial Group lifted their price objective on Manulife Financial from C$61.00 to C$70.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Scotiabank upped their target price on shares of Manulife Financial from C$56.00 to C$61.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$62.00.

Manulife Financial Price Performance

Shares of TSE MFC traded down C$0.10 during midday trading on Thursday, hitting C$60.57. The company’s stock had a trading volume of 1,196,773 shares, compared to its average volume of 6,012,459. The firm has a market capitalization of C$100.66 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. The business’s fifty day simple moving average is C$56.17 and its two-hundred day simple moving average is C$52.36. Manulife Financial has a 1 year low of C$41.08 and a 1 year high of C$61.18.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its earnings results on Wednesday, May 13th. The financial services provider reported C$1.06 earnings per share (EPS) for the quarter. Manulife Financial had a net margin of 11.97% and a return on equity of 12.60%. The company had revenue of C$2.15 billion for the quarter. Analysts anticipate that Manulife Financial will post 3.6104452 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Anthony Alex Silva sold 1,100 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of C$53.17, for a total transaction of C$58,487.00. Following the completion of the sale, the director owned 7,075 shares in the company, valued at C$376,177.75. The trade was a 13.46% decrease in their ownership of the stock. Also, Director Eileen Cloherty sold 6,500 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of C$53.45, for a total transaction of C$347,425.00. Following the completion of the transaction, the director owned 3,412 shares in the company, valued at C$182,371.40. This represents a 65.58% decrease in their ownership of the stock. Insiders sold 136,834 shares of company stock valued at $7,311,659 over the last quarter. Corporate 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.