Manulife Financial (MFC) Raised to Sell at ValuEngine

ValuEngine upgraded shares of Manulife Financial (NYSE:MFC) (TSE:MFC) from a strong sell rating to a sell rating in a report released on Thursday.

Other equities research analysts have also issued reports about the stock. TD Securities reiterated a buy rating on shares of Manulife Financial in a research note on Thursday. TheStreet lowered shares of Manulife Financial from a b- rating to a c+ rating in a research note on Monday, October 15th. Desjardins reiterated a buy rating on shares of Manulife Financial in a research note on Tuesday, October 16th. Zacks Investment Research upgraded shares of Manulife Financial from a hold rating to a buy rating and set a $20.00 price target on the stock in a research note on Friday, October 5th. Finally, Morgan Stanley lowered their price target 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. One 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. The stock has a consensus rating of Buy and a consensus price target of $25.67.

Shares of NYSE:MFC traded down $0.08 during midday trading on Thursday, reaching $16.90. 2,072,946 shares of the company were exchanged, compared to its average volume of 2,533,293. Manulife Financial has a fifty-two week low of $14.99 and a fifty-two week high of $22.16. The firm has a market cap of $32.65 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 0.81 and a beta of 1.31.

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 analysts’ consensus estimates of $0.50 by $0.25. Manulife Financial had a net margin of 4.22% and a return on equity of 12.69%. The business had revenue of $6.15 billion for the quarter. During the same quarter in the previous year, the business earned $0.53 earnings per share. Equities analysts predict that Manulife Financial will post 2.03 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Tuesday, November 20th will be paid a $0.19 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 4.50%. The ex-dividend date is Monday, November 19th. Manulife Financial’s payout ratio is presently 39.77%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC grew its position in shares of Manulife Financial by 22.5% in the 2nd quarter. Jane Street Group LLC now owns 576,308 shares of the financial services provider’s stock valued at $10,356,000 after acquiring an additional 105,930 shares during the period. Bank of America Corp DE grew its position in shares of Manulife Financial by 0.6% in the 2nd 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 acquiring an additional 38,361 shares during the period. Bank of Nova Scotia grew its position in shares of Manulife Financial by 3.9% in the 2nd quarter. Bank of Nova Scotia now owns 14,379,238 shares of the financial services provider’s stock valued at $258,275,000 after acquiring an additional 537,871 shares during the period. PCJ Investment Counsel Ltd. grew its position in shares of Manulife Financial by 7.9% in the 2nd quarter. PCJ Investment Counsel Ltd. now owns 2,769,306 shares of the financial services provider’s stock valued at $49,725,000 after acquiring an additional 201,780 shares during the period. Finally, First Republic Investment Management Inc. grew its position in shares of Manulife Financial by 62.9% in the 2nd quarter. First Republic Investment Management Inc. now owns 140,760 shares of the financial services provider’s stock valued at $2,529,000 after acquiring an additional 54,376 shares during the period. 46.21% of the stock is 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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Analyst Recommendations for Manulife Financial (NYSE:MFC)

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