National Bank Financial Cuts Manulife Financial (TSE:MFC) Price Target to C$26.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective decreased by equities researchers at National Bank Financial from C$27.00 to C$26.00 in a research report issued on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s price objective would indicate a potential upside of 17.22% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Evercore lowered their price objective on Manulife Financial from C$24.50 to C$24.00 in a report on Thursday. CIBC lifted their price objective on Manulife Financial from C$26.50 to C$27.00 in a report on Friday, May 3rd. Eight Capital lifted their price objective on Manulife Financial from C$28.00 to C$30.00 in a report on Friday, May 3rd. Canaccord Genuity lifted their price objective on Manulife Financial from C$30.00 to C$31.00 in a report on Monday, April 29th. Finally, Evercore ISI lowered their price objective on Manulife Financial from C$24.50 to C$24.00 in a report on Thursday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of C$28.08.

MFC stock traded down C$0.11 during trading on Friday, hitting C$22.18. The stock had a trading volume of 1,611,830 shares, compared to its average volume of 4,895,331. The company has a debt-to-equity ratio of 39.39, a current ratio of 4.96 and a quick ratio of 1.88. Manulife Financial has a twelve month low of C$18.33 and a twelve month high of C$25.18. The stock has a market cap of $43.46 billion and a PE ratio of 8.11. The business’s 50-day moving average price is C$23.86.

In other news, Senior Officer Scott Hartz sold 18,151 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of C$23.11, for a total transaction of C$419,469.61. Following the transaction, the insider now directly owns 51,128 shares in the company, valued at approximately C$1,181,568.08. Also, Director Brian Collins sold 1,962 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of C$23.55, for a total value of C$46,210.01. Over the last 90 days, insiders have sold 34,369 shares of company stock worth $801,444.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.

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Analyst Recommendations for Manulife Financial (TSE:MFC)

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