Manulife Financial Co. (TSE:MFC) Given Average Recommendation of “Buy” by Brokerages

by · The Markets Daily

Manulife Financial Co. (TSE:MFC – Get Free Report) (NYSE:MFC) has been assigned a consensus rating of “Buy” from the nine research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is C$53.13.

A number of research analysts recently issued reports on MFC shares. TD Securities lifted their price target on shares of Manulife Financial from C$57.00 to C$60.00 in a research note on Wednesday, January 14th. Barclays lifted their price objective on shares of Manulife Financial from C$49.00 to C$52.00 in a research report on Friday, January 9th. UBS Group raised Manulife Financial to a “strong-buy” rating in a report on Thursday, October 16th. National Bankshares lifted their price target on Manulife Financial from C$47.00 to C$52.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Finally, CIBC upgraded Manulife Financial from a “neutral” rating to an “outperform” rating and increased their price objective for the company from C$50.00 to C$58.00 in a report on Thursday, January 8th.

View Our Latest Stock Report on Manulife Financial

Insider Activity at Manulife Financial

In other Manulife Financial news, insider Shamus Edward Weiland sold 88,500 shares of the firm’s stock in a transaction that occurred 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 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. Also, insider Rahim Hirji sold 25,048 shares of the company’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 completion of 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 position. Corporate insiders own 0.03% of the company’s stock.

Manulife Financial Price Performance

MFC opened at C$51.98 on Friday. The business has a fifty day moving average price of C$50.16 and a 200 day moving average price of C$46.00. Manulife Financial has a 12 month low of C$36.93 and a 12 month high of C$52.42. The stock has a market capitalization of C$87.18 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 1.01 and a beta of 1.01.

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

Manulife Financial Company Profile

(Get Free Report)

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.

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