Manulife Financial (NYSE:MFC) (TSE:MFC) was upgraded by analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a report released on Wednesday, MarketBeat Ratings reports. National Bank Financial also issued estimates for Manulife Financial’s Q1 2018 earnings at $0.52 EPS, Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.54 EPS, FY2018 earnings at $2.13 EPS and FY2019 earnings at $2.34 EPS.
Other analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday, January 2nd. Morgan Stanley boosted their price target on shares of Manulife Financial from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $25.00.
Manulife Financial (NYSE MFC) traded up $0.16 during mid-day trading on Wednesday, hitting $21.79. 1,610,000 shares of the company’s stock were exchanged, compared to its average volume of 2,060,000. Manulife Financial has a one year low of $16.62 and a one year high of $22.16. The company has a market cap of $43,200.00, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 1.10 and a beta of 1.33.
Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, November 8th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. sell-side analysts predict that Manulife Financial will post 1.76 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Lourd Capital LLC purchased a new position in shares of Manulife Financial in the fourth quarter worth approximately $209,000. Assenagon Asset Management S.A. purchased a new position in shares of Manulife Financial in the fourth quarter worth approximately $9,997,000. Baldwin Brothers Inc. MA grew its position in Manulife Financial by 1.1% during the fourth quarter. Baldwin Brothers Inc. MA now owns 338,670 shares of the financial services provider’s stock valued at $7,065,000 after purchasing an additional 3,605 shares in the last quarter. APG Asset Management N.V. grew its position in Manulife Financial by 1.6% during the fourth quarter. APG Asset Management N.V. now owns 7,483,238 shares of the financial services provider’s stock valued at $130,416,000 after purchasing an additional 118,000 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. purchased a new position in Manulife Financial during the fourth quarter valued at approximately $203,000. 46.22% of the stock is currently owned by institutional investors.
About Manulife Financial
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.