Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have been assigned an average recommendation of “Buy” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$29.40.
A number of brokerages have recently weighed in on MFC. Canaccord Genuity set a C$29.00 price target on shares of Manulife Financial and gave the stock a “buy” rating in a research note on Tuesday, July 24th. National Bank Financial reduced their price target on shares of Manulife Financial from C$31.00 to C$30.00 and set an “outperform” rating for the company in a research note on Thursday, August 9th. Finally, Desjardins reduced their price target on shares of Manulife Financial from C$29.00 to C$27.00 in a research note on Tuesday, October 16th.
In related news, insider Rahim Hirji sold 22,000 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of C$24.30, for a total transaction of C$534,600.00. Also, insider Lynda Sullivan sold 5,754 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of C$24.14, for a total transaction of C$138,901.56. Over the last ninety days, insiders sold 45,883 shares of company stock valued at $1,111,136.
Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its quarterly earnings results on Wednesday, August 8th. The financial services provider reported C$0.70 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.65 by C$0.05. The company had revenue of C$13.67 billion during the quarter. Manulife Financial had a negative net margin of 7.55% and a negative return on equity of 12.24%.
Manulife Financial Company Profile
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 through insurance agents, brokers, banks, financial planners, and direct marketing.
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