Manulife Financial (NYSE:MFC) Upgraded to Buy by TD Securities

TD Securities upgraded shares of Manulife Financial (NYSE:MFC) (TSE:MFC) to a buy rating in a report released on Monday morning, The Fly reports.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity reiterated a buy rating and set a $35.00 price objective on shares of Manulife Financial in a report on Thursday, February 13th. Zacks Investment Research cut shares of Manulife Financial from a buy rating to a hold rating and set a $20.00 price objective for the company. in a report on Friday, November 29th. ValuEngine upgraded shares of Manulife Financial from a strong sell rating to a sell rating in a report on Tuesday, February 25th. CIBC restated a buy rating and set a $29.00 price target on shares of Manulife Financial in a report on Wednesday, December 11th. Finally, Barclays boosted their price target on shares of Manulife Financial from $27.00 to $32.00 and gave the stock an overweight rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Manulife Financial currently has an average rating of Hold and a consensus target price of $29.00.

Shares of NYSE MFC traded up $1.01 during mid-day trading on Monday, reaching $11.75. 4,842,900 shares of the company’s stock traded hands, compared to its average volume of 2,962,583. The stock has a market cap of $24.41 billion, a P/E ratio of 5.62, a PEG ratio of 0.40 and a beta of 1.36. The business has a 50-day simple moving average of $16.28 and a 200 day simple moving average of $18.53. Manulife Financial has a 1-year low of $8.62 and a 1-year high of $21.23.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.17. The firm had revenue of $8.46 billion during the quarter. Manulife Financial had a net margin of 7.04% and a return on equity of 13.03%. During the same quarter in the prior year, the business earned $0.65 earnings per share. As a group, sell-side analysts anticipate that Manulife Financial will post 2.23 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Tuesday, February 25th were issued a dividend of $0.212 per share. The ex-dividend date was Monday, February 24th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.19. This represents a $0.85 annualized dividend and a yield of 7.22%. Manulife Financial’s payout ratio is 37.95%.

Institutional investors have recently added to or reduced their stakes in the stock. Wetherby Asset Management Inc. raised its position in Manulife Financial by 1.7% in the fourth quarter. Wetherby Asset Management Inc. now owns 30,201 shares of the financial services provider’s stock worth $613,000 after acquiring an additional 499 shares during the period. M&T Bank Corp raised its position in Manulife Financial by 1.1% in the fourth quarter. M&T Bank Corp now owns 49,385 shares of the financial services provider’s stock worth $1,002,000 after acquiring an additional 542 shares during the period. Trust Co. of Vermont raised its position in Manulife Financial by 9.5% in the fourth quarter. Trust Co. of Vermont now owns 7,531 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 653 shares during the period. Cigna Investments Inc. New raised its position in Manulife Financial by 2.5% in the fourth quarter. Cigna Investments Inc. New now owns 28,910 shares of the financial services provider’s stock worth $564,000 after acquiring an additional 712 shares during the period. Finally, Weather Gauge Advisory LLC raised its position in Manulife Financial by 1.0% in the fourth quarter. Weather Gauge Advisory LLC now owns 78,413 shares of the financial services provider’s stock worth $1,591,000 after acquiring an additional 781 shares during the period. Institutional investors and hedge funds own 49.11% of the company’s stock.

Manulife Financial Company Profile

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; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.

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The Fly

Analyst Recommendations for Manulife Financial (NYSE:MFC)

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