TD Cuts Manulife Financial (TSE:MFC) Price Target to C$58.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price decreased by research analysts at TD from C$59.00 to C$58.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD’s price target points to a potential upside of 12.27% from the stock’s current price.

Other analysts have also recently issued reports about the stock. TD Securities decreased their target price on shares of Manulife Financial from C$60.00 to C$59.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. National Bank Financial upped their target price on shares of Manulife Financial from C$56.00 to C$59.00 and gave the company an “outperform” rating in a research report on Thursday. Scotiabank upped their target price on shares of Manulife Financial from C$55.00 to C$56.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Jefferies Financial Group increased their price objective on shares of Manulife Financial from C$54.00 to C$58.00 in a research report on Monday, February 2nd. Finally, Desjardins set a C$58.00 price objective on shares of Manulife Financial and gave the stock a “buy” rating in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$57.00.

Manulife Financial Price Performance

Shares of MFC traded down C$2.96 during midday trading on Thursday, hitting C$51.66. 5,664,713 shares of the company traded hands, compared to its average volume of 5,979,166. The firm has a 50 day moving average of C$49.90 and a 200-day moving average of C$49.61. Manulife Financial has a 52 week low of C$41.08 and a 52 week high of C$55.34. The stock has a market cap of C$86.21 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 1.01 and a beta of 0.74. The company has a debt-to-equity ratio of 28.80, a quick ratio of 2.58 and a current ratio of 2.12.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings data on Wednesday, May 13th. The financial services provider reported C$1.06 EPS for the quarter. Manulife Financial had a net margin of 10.91% and a return on equity of 11.34%. The business had revenue of C$2.15 billion during the quarter. On average, analysts forecast that Manulife Financial will post 3.6104452 EPS for the current fiscal year.

Insider Activity at Manulife Financial

In other news, Director Adam Thomas Wise sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of C$46.47, for a total transaction of C$162,645.00. Following the transaction, the director directly owned 2,497 shares of the company’s stock, valued at approximately C$116,035.59. This trade represents a 58.36% decrease in their ownership of the stock. Company insiders own 0.03% of the company’s stock.

Manulife Financial Company Profile

Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com. One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities.