Manulife Financial Stock Update: Analysts Raise Target Price

Manulife Financial (TSE:MFC – Free Report) (NYSE:MFC) has been making waves in the financial world with its recent target price increase by TD Securities. The company’s target price was upped from C$40.00 to C$41.00, reflecting a positive outlook on the company’s performance.

This news comes on the heels of other analysts also issuing favorable research reports about Manulife Financial. National Bankshares raised the company from a sector perform rating to an outperform rating, while CIBC and Evercore both increased their price targets for the stock. Overall, the stock has received a Moderate Buy rating from analysts, with an average price target of C$37.60.

In terms of stock performance, Manulife Financial opened at C$37.00 on Friday. The company has a strong financial position with a debt-to-equity ratio of 48.44 and a current ratio of 29.14. With a market capitalization of C$66.60 billion, Manulife Financial has shown resilience in the market.

Manulife Financial recently announced its quarterly earnings data, reporting C$0.94 EPS for the quarter, beating the consensus estimate. The company also announced a quarterly dividend, further showcasing its financial stability and commitment to shareholders.

In terms of insider activity, there have been notable transactions with Senior Officer Steve Finch and Director Philip James Witherington selling shares of the company. Despite this, insiders still hold a small percentage of the stock, indicating confidence in the company’s future performance.

Overall, Manulife Financial continues to be a strong player in the financial services industry, providing products and services to clients globally. With positive analyst ratings and a solid financial position, the company is poised for continued success in the market.