Manulife Financial (MFC) Given “Buy” Rating at Canaccord Genuity

Share on StockTwits

Canaccord Genuity reissued their buy rating on shares of Manulife Financial (NYSE:MFC) (TSE:MFC) in a research note released on Friday.

Several other brokerages have also recently issued reports on MFC. Desjardins restated a buy rating on shares of Manulife Financial in a research report on Tuesday, October 16th. TheStreet cut Manulife Financial from a b- rating to a c+ rating in a research report on Monday, October 15th. Zacks Investment Research upgraded Manulife Financial from a hold rating to a buy rating and set a $20.00 price target on the stock in a research report on Friday, October 5th. ValuEngine cut Manulife Financial from a sell rating to a strong sell rating in a research report on Thursday, August 2nd. Finally, TD Securities restated a buy rating on shares of Manulife Financial in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $25.67.

MFC stock traded down $0.08 during trading on Friday, hitting $16.90. The company had a trading volume of 2,072,946 shares, compared to its average volume of 3,725,719. The stock has a market capitalization of $32.47 billion, a PE ratio of 9.88, a price-to-earnings-growth 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 issued its quarterly earnings results on Wednesday, November 7th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.25. The firm had revenue of $6.15 billion for the quarter. Manulife Financial had a return on equity of 12.69% and a net margin of 4.22%. During the same quarter last year, the firm earned $0.53 EPS. As a group, equities research analysts predict that Manulife Financial will post 2.03 earnings per share for the current year.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its position in Manulife Financial by 22.5% during the 2nd 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 during the period. Bank of America Corp DE boosted its stake in shares of Manulife Financial by 0.6% during the 2nd quarter. Bank of America Corp DE now owns 6,424,425 shares of the financial services provider’s stock worth $115,447,000 after acquiring an additional 38,361 shares in the last quarter. Bank of Nova Scotia boosted its stake in shares of Manulife Financial by 3.9% during the 2nd quarter. Bank of Nova Scotia now owns 14,379,238 shares of the financial services provider’s stock worth $258,275,000 after acquiring an additional 537,871 shares in the last quarter. PCJ Investment Counsel Ltd. boosted its stake in shares of Manulife Financial by 7.9% during the 2nd quarter. PCJ Investment Counsel Ltd. now owns 2,769,306 shares of the financial services provider’s stock worth $49,725,000 after acquiring an additional 201,780 shares in the last quarter. Finally, Korea Investment CORP boosted its stake in shares of Manulife Financial by 17.5% during the 2nd quarter. Korea Investment CORP now owns 1,397,895 shares of the financial services provider’s stock worth $25,100,000 after acquiring an additional 208,500 shares in the last quarter. Institutional investors own 46.21% of the company’s stock.

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.

Featured Article: Moving Average – How it Helps Investors in Stock Selection

Analyst Recommendations for Manulife Financial (NYSE:MFC)

Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.