Manulife Financial (TSE:MFC) Price Target Lowered to C$46.00 at Jefferies Financial Group

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target decreased by equities research analysts at Jefferies Financial Group from C$51.00 to C$46.00 in a research note issued on Monday,BayStreet.CA reports. Jefferies Financial Group’s price objective points to a potential upside of 17.89% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. TD Securities increased their price target on shares of Manulife Financial from C$48.00 to C$49.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. CIBC boosted their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a research note on Friday, February 21st. Barclays reduced their target price on shares of Manulife Financial from C$49.00 to C$45.00 in a research note on Friday, April 11th. Finally, Royal Bank of Canada set a C$51.00 price objective on Manulife Financial and gave the stock an “outperform” rating in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$46.10.

Manulife Financial Stock Performance

Shares of TSE:MFC traded down C$0.63 during trading hours on Monday, reaching C$39.02. The stock had a trading volume of 1,201,376 shares, compared to its average volume of 6,874,153. The firm’s 50 day moving average is C$42.35 and its 200-day moving average is C$43.09. The stock has a market capitalization of C$68.44 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 1.01 and a beta of 1.06. Manulife Financial has a 1 year low of C$31.52 and a 1 year high of C$46.42.

Insiders Place Their Bets

In other news, Senior Officer Steve Finch sold 11,598 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of C$43.43, for a total transaction of C$503,646.63. Also, Director Kenneth Michael Ross sold 3,219 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of C$44.91, for a total transaction of C$144,572.68. In the last three months, insiders have sold 18,683 shares of company stock worth $816,102. 0.03% of the stock is owned by corporate insiders.

Manulife Financial Company Profile

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.