Manulife Financial (TSE:MFC) Price Target Raised to C$47.00 at Barclays

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price lifted by investment analysts at Barclays from C$40.00 to C$47.00 in a research report issued on Monday,BayStreet.CA reports. Barclays‘s price target indicates a potential upside of 5.67% from the company’s previous close.

Several other brokerages have also commented on MFC. National Bankshares lifted their price objective on shares of Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday, November 7th. CIBC increased their target price on shares of Manulife Financial from C$42.00 to C$46.00 in a report on Friday, November 8th. Cormark boosted their price target on shares of Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st. TD Securities lifted their price objective on Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group raised their target price on shares of Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Manulife Financial presently has an average rating of “Moderate Buy” and an average target price of C$44.09.

Manulife Financial Trading Up 0.4 %

TSE:MFC traded up C$0.18 on Monday, reaching C$44.48. 1,073,009 shares of the stock traded hands, compared to its average volume of 1,698,915. The company’s 50 day moving average is C$44.14 and its 200-day moving average is C$39.78. Manulife Financial has a 1-year low of C$28.06 and a 1-year high of C$46.42. The firm has a market capitalization of C$78.73 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60.

Insider Transactions at Manulife Financial

In other Manulife Financial news, Director Anthony Alex Silva sold 1,000 shares of Manulife Financial stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of C$45.22, for a total transaction of C$45,218.70. Also, Senior Officer James D. Gallagher sold 57,064 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of C$44.80, for a total value of C$2,556,638.39. Over the last 90 days, insiders sold 77,771 shares of company stock valued at $3,508,584. Corporate 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.