Manulife Financial Corp (NYSE:MFC) (TSE:MFC) had its target price lifted by investment analysts at Morgan Stanley from $26.00 to $27.00 in a research note issued on Thursday. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 32.94% from the company’s previous close.

MFC has been the subject of several other research reports. BidaskClub upgraded shares of Manulife Financial Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. ValuEngine downgraded shares of Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. Finally, Zacks Investment Research downgraded shares of Manulife Financial Corp from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $24.25.

Shares of Manulife Financial Corp (NYSE:MFC) traded down 0.20% during midday trading on Thursday, hitting $20.27. The stock had a trading volume of 936,139 shares. The stock’s 50-day moving average price is $19.85 and its 200 day moving average price is $18.70. The company has a market cap of $40.10 billion, a price-to-earnings ratio of 13.45 and a beta of 1.29. Manulife Financial Corp has a 52 week low of $14.15 and a 52 week high of $20.84.

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The company had revenue of $12.34 billion for the quarter, compared to analysts’ expectations of $16.09 billion. During the same quarter in the previous year, the business earned $0.40 EPS. On average, equities analysts forecast that Manulife Financial Corp will post $1.82 earnings per share for the current year.

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

Manulife Financial Corp 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 Corp (NYSE:MFC)

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