Manulife Financial (TSE:MFC) PT Raised to C$30.00 at Royal Bank of Canada

Manulife Financial (TSE:MFC – Get Rating) (NYSE:MFC) had its price target hoisted by stock analysts at Royal Bank of Canada from C$28.00 to C$30.00 in a research report issued on Friday, The Fly reports. Royal Bank of Canada’s target price would indicate a potential upside of 17.28% from the stock’s previous close.

A number of other equities research analysts have also commented on MFC. National Bankshares upped their target price on Manulife Financial from C$26.00 to C$27.00 and gave the company a “sector perform” rating in a research report on Thursday, February 16th. Cormark upped their target price on Manulife Financial from C$25.00 to C$27.00 in a research report on Monday, January 23rd. TD Securities upped their target price on Manulife Financial from C$34.00 to C$35.00 in a research report on Thursday. CIBC upped their price objective on Manulife Financial from C$23.00 to C$27.00 in a research report on Wednesday, January 25th. Finally, CSFB upped their price objective on Manulife Financial from C$27.00 to C$28.00 in a research report on Friday, February 17th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Manulife Financial presently has an average rating of “Moderate Buy” and an average target price of C$28.17.

Manulife Financial Stock Performance

Shares of Manulife Financial stock opened at C$25.58 on Friday. The company has a market capitalization of C$47.32 billion, a PE ratio of 6.95, a P/E/G ratio of 12.96 and a beta of 1.12. The company has a debt-to-equity ratio of 43.99, a quick ratio of 2.58 and a current ratio of 4.70. The company has a 50-day simple moving average of C$25.62 and a two-hundred day simple moving average of C$25.05. Manulife Financial has a one year low of C$20.81 and a one year high of C$27.50.

Manulife Financial (TSE:MFC – Get Rating) (NYSE:MFC) last issued its quarterly earnings results on Wednesday, February 15th. The financial services provider reported C$0.88 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.81 by C$0.07. Manulife Financial had a return on equity of 12.46% and a net margin of 47.00%. The business had revenue of C$15.40 billion for the quarter. Research analysts expect that Manulife Financial will post 3.4177378 EPS for the current fiscal year.

Insider Transactions at Manulife Financial

In other Manulife Financial news, Director Donald Richard Lindsay bought 50,000 shares of Manulife Financial stock in a transaction dated Thursday, March 9th. The stock was acquired at an average cost of C$26.64 per share, with a total value of C$1,332,005.00. In other news, Director Donald Richard Lindsay acquired 50,000 shares of Manulife Financial stock in a transaction that occurred on Thursday, March 9th. The stock was purchased at an average cost of C$26.64 per share, with a total value of C$1,332,005.00. Also, Director Marianne Harrison sold 36,995 shares of the stock in a transaction on Friday, February 17th. The shares were sold at an average price of C$26.78, for a total value of C$990,607.72. Corporate insiders own 0.03% of the company’s stock.

About Manulife Financial

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Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.