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

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

MFC has been the subject of several other research reports. CIBC lifted their target price on Manulife Financial from C$42.00 to C$46.00 in a research report on Friday, November 8th. Scotiabank boosted their price objective on shares of Manulife Financial from C$48.00 to C$49.00 in a research note on Friday, November 8th. TD Securities increased their price objective on Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group increased their price objective on shares of Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Cormark lifted their price target on Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$44.09.

Manulife Financial Price Performance

TSE:MFC traded up C$0.18 during trading hours on Monday, reaching C$44.48. 1,073,009 shares of the company traded hands, compared to its average volume of 1,698,915. 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 1-year low of C$28.06 and a 1-year high of C$46.42. The firm’s 50-day moving average is C$44.14 and its 200-day moving average is C$39.78. The stock has a market cap of C$78.73 billion, a P/E ratio of 18.93, a P/E/G ratio of 1.01 and a beta of 1.06.

Insiders Place Their Bets

In other Manulife Financial news, Director Kenneth Michael Ross sold 4,243 shares of Manulife Financial stock in a transaction on Monday, December 2nd. The shares were sold at an average price of C$45.80, for a total transaction of C$194,315.82. Also, Director Anthony Alex Silva sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of C$45.22, for a total value of C$45,218.70. Insiders sold 77,771 shares of company stock valued at $3,508,584 in the last ninety days. 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.