Manulife Financial Co. (MFC) Downgraded by ValuEngine

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) was downgraded by ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued on Monday.

MFC has been the topic of several other reports. BidaskClub upgraded shares of Manulife Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research lowered shares of Manulife Financial from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Manulife Financial presently has a consensus rating of “Buy” and an average price target of $23.33.

Shares of Manulife Financial (NYSE MFC) traded down 1.31% during midday trading on Monday, hitting $19.65. 2,421,025 shares of the stock were exchanged. The firm has a market cap of $38.87 billion, a PE ratio of 13.43 and a beta of 1.30. The firm has a 50-day moving average price of $19.87 and a 200 day moving average price of $18.53. Manulife Financial has a 12-month low of $13.53 and a 12-month high of $20.84.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. Manulife Financial had a net margin of 7.92% and a return on equity of 12.29%. The business had revenue of $12.34 billion for the quarter, compared to analyst estimates of $16.09 billion. During the same period in the previous year, the firm earned $0.40 EPS. Analysts predict that Manulife Financial will post $1.83 earnings per share for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in the stock. Ronald Blue & Co. LLC raised its stake in Manulife Financial by 0.7% in the 2nd quarter. Ronald Blue & Co. LLC now owns 12,997 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 93 shares during the last quarter. MML Investors Services LLC raised its stake in Manulife Financial by 1.6% in the 2nd quarter. MML Investors Services LLC now owns 16,014 shares of the financial services provider’s stock valued at $300,000 after purchasing an additional 245 shares during the last quarter. Bessemer Group Inc. raised its stake in Manulife Financial by 0.9% in the 2nd quarter. Bessemer Group Inc. now owns 29,736 shares of the financial services provider’s stock valued at $558,000 after purchasing an additional 261 shares during the last quarter. Park National Corp OH raised its stake in Manulife Financial by 3.9% in the 2nd quarter. Park National Corp OH now owns 13,525 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 508 shares during the last quarter. Finally, M&T Bank Corp raised its stake in Manulife Financial by 1.8% in the 2nd quarter. M&T Bank Corp now owns 41,840 shares of the financial services provider’s stock valued at $785,000 after purchasing an additional 754 shares during the last quarter. 45.96% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Company Profile

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

Analyst Recommendations for Manulife Financial (NYSE:MFC)

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