Manulife Financial (TSE:MFC) Price Target Raised to C$52.00 at Barclays

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target lifted by stock analysts at Barclays from C$49.00 to C$52.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Barclays‘s price objective would indicate a potential downside of 0.29% from the company’s current price.

A number of other brokerages have also recently weighed in on MFC. TD Securities boosted their price target on Manulife Financial from C$54.00 to C$57.00 in a research report on Thursday, November 13th. CIBC raised Manulife Financial from a “neutral” rating to an “outperform” rating and upped their target price for the stock from C$50.00 to C$58.00 in a research report on Thursday. Royal Bank Of Canada boosted their price objective on shares of Manulife Financial from C$49.00 to C$52.00 in a research note on Friday, November 14th. National Bankshares raised 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 research note on Monday, October 20th. Finally, Desjardins set a C$55.00 target price on shares of Manulife Financial and gave the stock a “buy” rating in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Manulife Financial has an average rating of “Buy” and a consensus target price of C$52.75.

Manulife Financial Trading Up 1.3%

TSE MFC traded up C$0.67 during trading on Friday, reaching C$52.15. The company’s stock had a trading volume of 1,031,822 shares, compared to its average volume of 4,744,821. The business has a 50-day moving average price of C$48.89 and a 200-day moving average price of C$45.10. Manulife Financial has a 1-year low of C$36.93 and a 1-year high of C$52.25. The stock has a market capitalization of C$87.68 billion, a PE ratio of 16.71, a PEG ratio of 1.01 and a beta of 1.01.

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

Insider Buying and Selling at Manulife Financial

In related news, insider Rahim Hirji sold 25,048 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of C$48.25, for a total transaction of C$1,208,566.00. Following the transaction, the insider owned 31,315 shares of the company’s stock, valued at approximately C$1,510,948.75. The trade was a 44.44% decrease in their ownership of the stock. Also, insider Shamus Edward Weiland sold 88,500 shares of the stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of C$48.95, for a total transaction of C$4,332,075.00. Following the completion of the sale, the insider directly owned 53,495 shares of the company’s stock, valued at approximately C$2,618,580.25. This trade represents a 62.33% decrease in their ownership of the stock. Company insiders own 0.03% of the company’s stock.

About Manulife Financial

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.