Manulife Financial Corp. (MFC) Hits New 1-Year High Following Analyst Upgrade
Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) reached a new 52-week high during trading on Wednesday after CSFB raised their price target on the stock from C$28.00 to C$31.00. The stock traded as high as C$26.25 and last traded at C$26.15, with a volume of 4,897,018 shares. The stock had previously closed at C$25.94.
Several other equities research analysts also recently commented on MFC. National Bank Financial boosted their target price on Manulife Financial Corp. from C$26.00 to C$27.00 and gave the stock a “sector perform” rating in a report on Thursday, August 10th. Royal Bank Of Canada boosted their price target on Manulife Financial Corp. from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Friday, August 11th. BMO Capital Markets restated an “outperform” rating and issued a C$30.00 price target on shares of Manulife Financial Corp. in a research note on Wednesday, October 11th. Finally, Barclays PLC boosted their price target on Manulife Financial Corp. from C$28.00 to C$29.00 in a research note on Wednesday, July 12th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of C$27.75.
In other news, insider Marianne Harrison sold 3,703 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of C$24.26, for a total value of C$89,834.78.
The stock has a market capitalization of $52.00 billion and a P/E ratio of 14.36. The company’s 50 day moving average price is $25.34 and its 200-day moving average price is $24.59.
About Manulife Financial Corp.
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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