StockNews.com started coverage on shares of Manulife Financial (NYSE:MFC – Get Rating) (TSE:MFC) in a research note published on Thursday. The firm issued a hold rating on the financial services provider’s stock.
Other equities analysts have also recently issued reports about the stock. CIBC upped their price target on shares of Manulife Financial from C$23.00 to C$27.00 in a research report on Wednesday, January 25th. Scotiabank upped their price target on shares of Manulife Financial from C$27.00 to C$34.00 in a research report on Monday, January 30th. Desjardins upped their price target on shares of Manulife Financial from C$26.00 to C$28.00 in a research report on Friday, February 17th. Royal Bank of Canada upped their price target on shares of Manulife Financial from C$26.00 to C$28.00 and gave the company a sector perform rating in a research report on Friday, February 17th. Finally, Credit Suisse Group started coverage on shares of Manulife Financial in a research note on Thursday, January 12th. They issued a neutral rating on the stock. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $29.29.
Manulife Financial Stock Down 2.7 %
NYSE MFC traded down $0.48 on Thursday, hitting $17.53. The company’s stock had a trading volume of 5,626,024 shares, compared to its average volume of 4,057,182. Manulife Financial has a 1-year low of $14.92 and a 1-year high of $21.85. The company’s 50-day moving average is $19.33 and its 200 day moving average is $17.86. The firm has a market cap of $32.56 billion, a PE ratio of 6.22, a PEG ratio of 0.75 and a beta of 1.13.
Manulife Financial Increases Dividend
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. MinichMacGregor Wealth Management LLC bought a new position in Manulife Financial during the fourth quarter worth $25,000. Sanctuary Wealth Management L.L.C. bought a new position in Manulife Financial during the fourth quarter worth $27,000. Pinnacle Bancorp Inc. bought a new position in Manulife Financial during the third quarter worth $25,000. Tsfg LLC boosted its stake in Manulife Financial by 145.7% during the third quarter. Tsfg LLC now owns 1,693 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,004 shares in the last quarter. Finally, Ronald Blue Trust Inc. boosted its stake in Manulife Financial by 100.7% during the third quarter. Ronald Blue Trust Inc. now owns 1,736 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 871 shares in the last quarter. 43.42% of the stock is owned by institutional investors.
Manulife Financial Company Profile
Manulife Financial Corp. engages in the provision of financial services. It operates through the following segments: Asia, Canada, U.S., Global Wealth and Asset Management, and Corporate and Other. The Asia segment refers to insurance and insurance-based wealth accumulation products in Asia. The Canada segment offers insurance-based wealth accumulation products and banking services in Canada.
- Get a free copy of the StockNews.com research report on Manulife Financial (MFC)
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