TD Securities Forecasts Strong Price Appreciation for Manulife Financial (TSE:MFC) Stock

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price boosted by TD Securities from C$48.00 to C$49.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. TD Securities’ target price would suggest a potential upside of 7.72% from the company’s previous close.

Several other research firms also recently weighed in on MFC. CIBC upped their price target on Manulife Financial from C$46.00 to C$47.00 in a research note on Thursday, January 30th. Cormark upped their price target on Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st. National Bankshares increased their target price on Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday, November 7th. Barclays increased their target price on Manulife Financial from C$40.00 to C$47.00 in a research report on Monday, January 6th. Finally, Scotiabank raised their price target on Manulife Financial from C$48.00 to C$49.00 in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$45.50.

Manulife Financial Stock Up 7.5 %

MFC stock traded up C$3.17 during midday trading on Thursday, hitting C$45.49. The company’s stock had a trading volume of 3,781,262 shares, compared to its average volume of 5,381,857. Manulife Financial has a 12 month low of C$31.24 and a 12 month high of C$46.42. The firm has a market capitalization of C$79.79 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The company has a 50 day moving average of C$43.51 and a two-hundred day moving average of C$41.45.

Insider Activity

In related news, Senior Officer James D. Gallagher sold 57,064 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of C$44.80, for a total transaction of C$2,556,638.39. Also, Director Anthony Alex Silva sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of C$45.22, for a total value of C$45,218.70. Over the last 90 days, insiders have sold 62,307 shares of company stock worth $2,796,173. Company 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.