Manulife Financial (MFC) Stock Rating Reaffirmed by Barclays

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

Several other brokerages have also commented on MFC. Canaccord Genuity reiterated a “buy” rating on shares of Manulife Financial in a research note on Friday, November 9th. ValuEngine upgraded shares of Manulife Financial from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 8th. 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. Scotiabank reiterated an “average” rating and set a $28.00 price target on shares of Manulife Financial in a research note on Tuesday, November 13th. Finally, TheStreet upgraded shares of Manulife Financial from a “c+” rating to a “b-” rating in a research note on Friday, November 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Manulife Financial presently has a consensus rating of “Buy” and a consensus price target of $24.33.

Shares of NYSE:MFC opened at $15.54 on Thursday. Manulife Financial has a 12 month low of $13.33 and a 12 month high of $22.16. The firm has a market cap of $31.00 billion, a P/E ratio of 9.09, a P/E/G ratio of 0.71 and a beta of 1.32.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, November 7th. The financial services provider reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.25. Manulife Financial had a net margin of 5.49% and a return on equity of 13.70%. The firm had revenue of $6.15 billion for the quarter. During the same quarter in the prior year, the business earned $0.53 earnings per share. Analysts predict that Manulife Financial will post 2.08 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of MFC. Neuberger Berman Group LLC boosted its holdings in shares of Manulife Financial by 0.6% in the third quarter. Neuberger Berman Group LLC now owns 169,074 shares of the financial services provider’s stock valued at $3,024,000 after acquiring an additional 1,043 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Manulife Financial by 12.8% in the third 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 in the last quarter. Daiwa SB Investments Ltd. boosted its holdings in shares of Manulife Financial by 1.4% in the third 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 in the last quarter. CLARET ASSET MANAGEMENT Corp boosted its holdings in shares of Manulife Financial by 3.4% in the third 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 in the last quarter. Finally, Barry Investment Advisors LLC boosted its holdings in shares of Manulife Financial by 1.9% in the third 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 in the last quarter. 46.39% 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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Analyst Recommendations for Manulife Financial (NYSE:MFC)

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