TD Securities Forecasts Strong Price Appreciation for Manulife Financial (TSE:MFC) Stock

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price boosted by TD Securities from C$48.00 to C$49.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Securities’ price objective would indicate a potential upside of 7.72% from the stock’s current price.

Other analysts have also recently issued reports about the company. National Bankshares boosted their price objective on Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday, November 7th. Jefferies Financial Group boosted their price objective on Manulife Financial from C$50.00 to C$51.00 in a research report on Thursday, January 30th. CIBC boosted their price objective on Manulife Financial from C$46.00 to C$47.00 in a research report on Thursday, January 30th. Cormark boosted their price target on Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. Finally, Scotiabank boosted their price target on Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$45.50.

Manulife Financial Stock Up 7.5 %

Shares of Manulife Financial stock traded up C$3.17 on Thursday, reaching C$45.49. 3,781,262 shares of the stock were exchanged, compared to its average volume of 5,381,857. Manulife Financial has a twelve month low of C$31.24 and a twelve month high of C$46.42. The firm has a market capitalization of C$79.79 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.01 and a beta of 1.06. The business has a 50 day moving average price of C$43.51 and a two-hundred day moving average price of C$41.45.

Insider Activity at Manulife Financial

In other news, Senior Officer James D. Gallagher sold 57,064 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total transaction of C$2,556,638.39. Also, Director Kenneth Michael Ross sold 4,243 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of C$45.80, for a total value of C$194,315.82. Insiders sold 62,307 shares of company stock valued at $2,796,173 over the last three months. 0.03% of the stock is 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.