Several other equities research analysts also recently commented on MFC. Zacks Investment Research raised shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Tuesday, July 23rd. Barclays reaffirmed a “buy” rating and issued a $29.00 target price on shares of Manulife Financial in a research note on Sunday, May 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $25.67.
Shares of MFC traded down $0.39 on Thursday, reaching $17.09. 1,860,871 shares of the company’s stock were exchanged, compared to its average volume of 1,517,585. The stock has a market cap of $35.45 billion, a PE ratio of 8.10, a P/E/G ratio of 0.82 and a beta of 1.38. The stock’s 50 day simple moving average is $18.25. Manulife Financial has a 12 month low of $13.33 and a 12 month high of $18.95.
Large investors have recently modified their holdings of the business. State of Wisconsin Investment Board increased its stake in Manulife Financial by 15.7% in the first quarter. State of Wisconsin Investment Board now owns 2,367,496 shares of the financial services provider’s stock valued at $40,050,000 after purchasing an additional 321,418 shares in the last quarter. Bremer Bank National Association bought a new stake in Manulife Financial in the first quarter valued at approximately $42,000. Ninepoint Partners LP increased its stake in Manulife Financial by 5,656.5% in the first quarter. Ninepoint Partners LP now owns 690,776 shares of the financial services provider’s stock valued at $11,681,000 after purchasing an additional 678,776 shares in the last quarter. We Are One Seven LLC increased its stake in Manulife Financial by 93.4% in the first quarter. We Are One Seven LLC now owns 22,714 shares of the financial services provider’s stock valued at $384,000 after purchasing an additional 10,970 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. increased its stake in Manulife Financial by 1,482.6% in the second quarter. Waratah Capital Advisors Ltd. now owns 1,173,246 shares of the financial services provider’s stock valued at $21,337,000 after purchasing an additional 1,099,111 shares in the last quarter. 46.91% of the stock is owned by hedge funds and other institutional investors.
About Manulife Financial
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.
Featured Story: The components of the Stochastic Momentum Index
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.