Cormark Issues Positive Forecast for Manulife Financial (TSE:MFC) Stock Price

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price increased by investment analysts at Cormark from C$47.00 to C$48.00 in a research report issued on Thursday,BayStreet.CA reports. Cormark’s target price indicates a potential upside of 4.80% from the stock’s previous close.

Several other analysts have also issued reports on the company. TD Securities boosted their price target on Manulife Financial from C$45.00 to C$48.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group upped their price objective on Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada increased their price target on Manulife Financial from C$38.00 to C$39.00 in a report on Friday, August 9th. Finally, National Bankshares increased their price target on Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$43.36.

Manulife Financial Stock Performance

Manulife Financial stock traded up C$0.77 during mid-day trading on Thursday, reaching C$45.80. 4,110,973 shares of the stock traded hands, compared to its average volume of 6,452,714. The stock has a market capitalization of C$81.07 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. 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 12-month low of C$26.01 and a 12-month high of C$46.42. The business’s 50-day moving average is C$41.32 and its 200-day moving average is C$37.71.

Insider Transactions at Manulife Financial

In other news, Senior Officer Steve Finch sold 11,598 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total transaction of C$534,308.26. Also, Director Brooks Tingle sold 3,866 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total value of C$178,102.75. Insiders sold 17,630 shares of company stock valued at $793,528 in the last quarter. 0.03% of the stock is currently owned by corporate insiders.

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.