TD Securities Reaffirms “Buy” Rating for Manulife Financial (MFC)

Manulife Financial (NYSE:MFC) (TSE:MFC)‘s stock had its “buy” rating reaffirmed by research analysts at TD Securities in a report released on Thursday.

MFC has been the subject of several other reports. TheStreet downgraded Manulife Financial from a “b-” rating to a “c+” rating in a report on Monday, October 15th. Desjardins reissued a “buy” rating on shares of Manulife Financial in a research note on Tuesday, October 16th. ValuEngine downgraded Manulife Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Morgan Stanley reduced their price objective on Manulife Financial from $27.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 11th. Finally, Zacks Investment Research downgraded Manulife Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. 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 company’s stock. Manulife Financial has a consensus rating of “Buy” and a consensus target price of $25.67.

Shares of NYSE MFC traded down $0.08 during mid-day trading on Thursday, hitting $16.90. 2,072,946 shares of the company traded hands, compared to its average volume of 3,725,719. Manulife Financial has a 1 year low of $14.99 and a 1 year high of $22.16. The company has a market cap of $32.47 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 0.81 and a beta of 1.31.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, November 7th. The financial services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.50 by $0.25. Manulife Financial had a return on equity of 12.69% and a net margin of 4.22%. The business had revenue of $6.15 billion during the quarter. During the same period in the prior year, the company earned $0.53 earnings per share. Research analysts anticipate that Manulife Financial will post 2.03 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in MFC. MUFG Americas Holdings Corp increased its position in Manulife Financial by 61.0% in the 2nd quarter. MUFG Americas Holdings Corp now owns 8,343 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 3,160 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Manulife Financial by 12.8% during the 3rd quarter. Private Advisor Group LLC now owns 28,656 shares of the financial services provider’s stock valued at $512,000 after acquiring an additional 3,257 shares during the last quarter. Daiwa SB Investments Ltd. increased its holdings in shares of Manulife Financial by 1.4% during the 3rd quarter. Daiwa SB Investments Ltd. now owns 239,660 shares of the financial services provider’s stock valued at $4,285,000 after acquiring an additional 3,330 shares during the last quarter. CLARET ASSET MANAGEMENT Corp increased its holdings in shares of Manulife Financial by 3.4% during the 3rd quarter. CLARET ASSET MANAGEMENT Corp now owns 112,409 shares of the financial services provider’s stock valued at $2,009,000 after acquiring an additional 3,709 shares during the last quarter. Finally, Barry Investment Advisors LLC increased its holdings in shares of Manulife Financial by 1.9% during the 3rd quarter. Barry Investment Advisors LLC now owns 222,186 shares of the financial services provider’s stock valued at $3,973,000 after acquiring an additional 4,038 shares during the last quarter. 46.21% of the stock is owned by hedge funds and other 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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