Manulife Financial (MFC) Stock Rating Upgraded by ValuEngine

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Manulife Financial (NYSE:MFC) (TSE:MFC) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Thursday.

MFC has been the subject of a number of other reports. TheStreet downgraded shares of 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 report on Tuesday, October 16th. Morgan Stanley reduced their price target on shares of Manulife Financial from $27.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, July 11th. Zacks Investment Research downgraded shares of Manulife Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Finally, TD Securities reissued a “buy” rating on shares of Manulife Financial in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $25.67.

NYSE MFC opened at $16.90 on Thursday. The firm has a market cap of $32.47 billion, a P/E ratio of 8.48, a PEG 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.25. The business 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 period in the prior year, the company posted $0.53 earnings per share. On average, analysts anticipate that Manulife Financial will post 2.03 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. LPL Financial LLC lifted its holdings in shares of Manulife Financial by 11.1% during the 1st quarter. LPL Financial LLC now owns 56,575 shares of the financial services provider’s stock worth $1,051,000 after acquiring an additional 5,645 shares during the period. Addenda Capital Inc. lifted its holdings in shares of Manulife Financial by 101.6% during the 2nd quarter. Addenda Capital Inc. now owns 6,455,126 shares of the financial services provider’s stock worth $117,819,000 after acquiring an additional 3,253,890 shares during the period. NN Investment Partners Holdings N.V. lifted its holdings in shares of Manulife Financial by 3.8% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 232,577 shares of the financial services provider’s stock worth $4,179,000 after acquiring an additional 8,480 shares during the period. Atria Investments LLC lifted its holdings in shares of Manulife Financial by 25.4% during the 2nd quarter. Atria Investments LLC now owns 50,059 shares of the financial services provider’s stock worth $900,000 after acquiring an additional 10,137 shares during the period. Finally, Cornerstone Wealth Management LLC bought a new position in shares of Manulife Financial during the 2nd quarter worth about $4,692,000. 46.21% of the stock is owned by hedge funds and other 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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