Manulife Financial (TSE:MFC) Given New C$46.00 Price Target at CIBC

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target raised by investment analysts at CIBC from C$42.00 to C$46.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 4.03% from the stock’s current price.

MFC has been the subject of several other research reports. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Barclays set a C$39.00 price target on shares of Manulife Financial and gave the stock an “equal weight” rating in a report on Thursday, September 5th. TD Securities boosted their price objective on shares of Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada raised their target price on Manulife Financial from C$38.00 to C$39.00 in a research note on Friday, August 9th. Finally, Scotiabank increased their price objective on Manulife Financial from C$48.00 to C$49.00 in a report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$42.27.

Manulife Financial Stock Down 1.2 %

Shares of MFC stock traded down C$0.54 during mid-day trading on Friday, hitting C$44.22. 852,346 shares of the stock traded hands, compared to its average volume of 6,369,308. The stock’s fifty day moving average is C$39.84 and its two-hundred day moving average is C$36.88. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58. Manulife Financial has a 52-week low of C$25.39 and a 52-week high of C$45.68. The stock has a market cap of C$78.27 billion, a P/E ratio of 18.76, a P/E/G ratio of 1.01 and a beta of 1.06.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.88 by C$0.03. The business had revenue of C$12.88 billion for the quarter, compared to analyst estimates of C$12.27 billion. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. Equities analysts predict that Manulife Financial will post 3.6104452 EPS for the current year.

Insiders Place Their Bets

In other news, Senior Officer Steve Finch sold 11,599 shares of Manulife Financial stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$35.73, for a total value of C$414,439.23. In related news, Director Rocco Gori sold 48,345 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total value of C$1,727,395.86. Also, Senior Officer Steve Finch sold 11,599 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total transaction of C$414,439.23. Over the last ninety days, insiders sold 68,821 shares of company stock worth $2,455,596. Company insiders own 0.03% of the company’s stock.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.