Manulife Financial (TSE:MFC – Get Free Report) (NYSE:MFC) was upgraded by equities research analysts at Dbs Bank to a “strong-buy” rating in a report issued on Thursday, Zacks.com reports.
Several other brokerages also recently commented on MFC. Scotiabank lifted their target price on shares of Manulife Financial from C$40.00 to C$41.00 in a report on Friday. National Bank Financial raised shares of Manulife Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a report on Wednesday, May 8th. Evercore lifted their target price on shares of Manulife Financial from C$36.00 to C$37.00 in a report on Friday, May 10th. TD Securities lifted their target price on shares of Manulife Financial from C$40.00 to C$41.00 in a report on Friday, July 12th. Finally, BMO Capital Markets boosted their price objective on shares of Manulife Financial from C$40.00 to C$41.00 in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$38.64.
Check Out Our Latest Stock Report on Manulife Financial
Manulife Financial Stock Performance
Manulife Financial (TSE:MFC – Get Free Report) (NYSE:MFC) last announced its earnings results on Wednesday, May 8th. The financial services provider reported C$0.94 EPS for the quarter, topping the consensus estimate of C$0.90 by C$0.04. The business had revenue of C$12.80 billion during the quarter, compared to the consensus estimate of C$12.13 billion. Manulife Financial had a net margin of 18.29% and a return on equity of 10.48%. As a group, equities analysts predict that Manulife Financial will post 3.6078629 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Senior Officer Steve Finch sold 11,598 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of C$35.29, for a total transaction of C$409,293.42. In other Manulife Financial news, Director Philip James Witherington sold 97,640 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of C$35.17, for a total value of C$3,433,852.34. Also, Senior Officer Steve Finch sold 11,598 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of C$35.29, for a total transaction of C$409,293.42. Insiders sold a total of 157,878 shares of company stock worth $5,557,706 in the last three months. 0.02% 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.
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