Manulife Financial (TSE:MFC) Given a C$52.00 Price Target at Royal Bank Of Canada

Manulife Financial (TSE:MFC) (NYSE:MFC) has been given a C$52.00 target price by stock analysts at Royal Bank Of Canada in a report released on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 0.06% from the company’s previous close.

A number of other equities analysts have also recently issued reports on MFC. CIBC upgraded Manulife Financial from a “neutral” rating to an “outperform” rating and raised their target price for the stock from C$50.00 to C$58.00 in a report on Thursday, January 8th. Desjardins set a C$55.00 price target on shares of Manulife Financial and gave the company a “buy” rating in a research report on Thursday, December 18th. Cibc Captl Mkts upgraded shares of Manulife Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. UBS Group raised shares of Manulife Financial to a “strong-buy” rating in a research note on Thursday, October 16th. Finally, National Bankshares lifted their price target on shares of Manulife Financial from C$47.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Manulife Financial has an average rating of “Buy” and an average target price of C$53.13.

Manulife Financial Stock Down 0.1%

TSE MFC traded down C$0.07 during trading hours on Monday, hitting C$51.97. The company’s stock had a trading volume of 468,770 shares, compared to its average volume of 4,398,410. Manulife Financial has a twelve month low of C$36.93 and a twelve month high of C$52.42. The firm has a market capitalization of C$87.16 billion, a P/E ratio of 16.66, a PEG ratio of 1.01 and a beta of 1.01. The stock has a fifty day moving average of C$49.53 and a 200 day moving average of C$45.48.

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

Insider Activity at Manulife Financial

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

Manulife Financial Company Profile

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.