Manulife Financial Corp (NYSE:MFC) (TSE:MFC) has been assigned a consensus recommendation of “Buy” from the nine research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $24.50.

A number of research analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Manulife Financial Corp from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. ValuEngine cut shares of Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. BidaskClub upgraded shares of Manulife Financial Corp from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, Zacks Investment Research upgraded shares of Manulife Financial Corp from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Tuesday, October 10th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ronald Blue & Co. LLC lifted its position in shares of Manulife Financial Corp by 0.7% during the second 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 in the last quarter. MML Investors Services LLC lifted its position in shares of Manulife Financial Corp by 1.6% during the second 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 in the last quarter. Bessemer Group Inc. lifted its position in shares of Manulife Financial Corp by 0.9% during the second 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 in the last quarter. Park National Corp OH lifted its position in shares of Manulife Financial Corp by 3.9% during the second 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 in the last quarter. Finally, M&T Bank Corp lifted its position in shares of Manulife Financial Corp by 1.8% during the second 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 in the last quarter. 46.12% of the stock is currently owned by institutional investors.

Shares of Manulife Financial Corp (NYSE MFC) opened at 20.10 on Wednesday. The firm’s 50-day moving average is $20.28 and its 200 day moving average is $19.11. The company has a market capitalization of $39.76 billion, a PE ratio of 13.34 and a beta of 1.29. Manulife Financial Corp has a 12 month low of $14.15 and a 12 month high of $20.89.

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of $12.34 billion for the quarter, compared to analyst estimates of $16.09 billion. During the same quarter in the prior year, the business earned $0.40 earnings per share. Equities research analysts predict that Manulife Financial Corp will post $1.71 EPS for the current year.

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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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