Manulife Financial (NYSE:MFC) (TSE:MFC) was upgraded by research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report issued on Thursday.
Other research analysts have also issued research reports about the stock. Desjardins reaffirmed a “buy” rating on shares of Manulife Financial in a research note on Tuesday, October 16th. TheStreet lowered shares of Manulife Financial from a “b-” rating to a “c+” rating in a research note on Monday, October 15th. Zacks Investment Research raised shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Friday, October 5th. Morgan Stanley reduced their target price on shares of Manulife Financial from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 11th. Finally, TD Securities reaffirmed a “buy” rating on shares of Manulife Financial in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $25.67.
MFC opened at $16.90 on Thursday. The stock has a market capitalization of $32.47 billion, a price-to-earnings ratio of 8.48, a P/E/G ratio of 0.81 and a beta of 1.31. Manulife Financial has a 1-year low of $14.99 and a 1-year high of $22.16.
Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, November 7th. The financial services provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.25. The firm had revenue of $6.15 billion during the quarter. Manulife Financial had a net margin of 4.22% and a return on equity of 12.69%. During the same quarter in the previous year, the business posted $0.53 EPS. Equities research analysts forecast that Manulife Financial will post 2.03 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of MFC. Cerebellum GP LLC bought a new position in Manulife Financial during the 3rd quarter worth approximately $149,000. MUFG Americas Holdings Corp boosted its stake in Manulife Financial by 61.0% during the 2nd quarter. MUFG Americas Holdings Corp now owns 8,343 shares of the financial services provider’s stock worth $150,000 after acquiring an additional 3,160 shares during the last quarter. Truvestments Capital LLC bought a new position in Manulife Financial during the 3rd quarter worth approximately $149,000. ProVise Management Group LLC bought a new position in Manulife Financial during the 2nd quarter worth approximately $191,000. Finally, We Are One Seven LLC bought a new position in Manulife Financial during the 3rd quarter worth approximately $227,000. 46.21% of the stock is currently owned by institutional investors.
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 through insurance agents, brokers, banks, financial planners, and direct marketing.
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