Manulife Financial (MFC) Stock Rating Reaffirmed by TD Securities

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

MFC has been the subject of a number of other reports. TheStreet downgraded Manulife Financial from a “b-” rating to a “c+” rating in a research note on Monday, October 15th. Desjardins reissued a “buy” rating on shares of Manulife Financial in a research note on Tuesday, October 16th. ValuEngine cut Manulife Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Morgan Stanley decreased their price target 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 cut Manulife Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $25.67.

MFC traded down $0.08 during trading on Thursday, reaching $16.90. 2,072,946 shares of the company were exchanged, compared to its average volume of 3,725,719. The company has a market cap of $32.47 billion, a P/E ratio of 9.88, a PEG ratio of 0.81 and a beta of 1.31. Manulife Financial has a 52 week low of $14.99 and a 52 week high of $22.16.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, November 7th. The financial services provider reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.25. The firm had revenue of $6.15 billion during the quarter. Manulife Financial had a return on equity of 12.69% and a net margin of 4.22%. During the same quarter in the previous year, the company earned $0.53 earnings per share. Equities analysts predict that Manulife Financial will post 2.03 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC grew its stake in shares of Manulife Financial by 22.5% in the second quarter. Jane Street Group LLC now owns 576,308 shares of the financial services provider’s stock worth $10,356,000 after purchasing an additional 105,930 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Manulife Financial by 0.6% in the second quarter. Bank of America Corp DE now owns 6,424,425 shares of the financial services provider’s stock valued at $115,447,000 after buying an additional 38,361 shares during the period. Bank of Nova Scotia lifted its holdings in shares of Manulife Financial by 3.9% in the second quarter. Bank of Nova Scotia now owns 14,379,238 shares of the financial services provider’s stock valued at $258,275,000 after buying an additional 537,871 shares during the period. PCJ Investment Counsel Ltd. lifted its holdings in shares of Manulife Financial by 7.9% in the second quarter. PCJ Investment Counsel Ltd. now owns 2,769,306 shares of the financial services provider’s stock valued at $49,725,000 after buying an additional 201,780 shares during the period. Finally, Korea Investment CORP lifted its holdings in shares of Manulife Financial by 17.5% in the second quarter. Korea Investment CORP now owns 1,397,895 shares of the financial services provider’s stock valued at $25,100,000 after buying an additional 208,500 shares during the period. 46.21% of the stock is owned by institutional investors.

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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Analyst Recommendations for Manulife Financial (NYSE:MFC)

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