Canaccord Genuity Reiterates “Buy” Rating for Manulife Financial (MFC)
Manulife Financial (NYSE:MFC) (TSE:MFC)‘s stock had its “buy” rating restated by equities research analysts at Canaccord Genuity in a report issued on Friday.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Manulife Financial from a “sell” rating to a “hold” rating in a report on Friday, August 10th. TD Securities reiterated a “buy” rating on shares of Manulife Financial in a report on Thursday. ValuEngine upgraded Manulife Financial from a “strong sell” rating to a “sell” rating in a report on Thursday. Desjardins reiterated a “buy” rating on shares of Manulife Financial in a report on Tuesday, October 16th. Finally, TheStreet cut Manulife Financial from a “b-” rating to a “c+” rating in a report on Monday, October 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $25.67.
Shares of Manulife Financial stock opened at $16.90 on Friday. Manulife Financial has a twelve month low of $14.99 and a twelve month high of $22.16. The firm has a market capitalization of $33.70 billion, a P/E ratio of 8.20, a PEG ratio of 0.83 and a beta of 1.31.
Large investors have recently added to or reduced their stakes in the business. Cerebellum GP LLC purchased a new position in Manulife Financial in the third quarter valued at about $149,000. MUFG Americas Holdings Corp raised its position in Manulife Financial by 61.0% in the second quarter. MUFG Americas Holdings Corp now owns 8,343 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 3,160 shares during the period. Truvestments Capital LLC purchased a new position in Manulife Financial in the third quarter valued at about $149,000. ProVise Management Group LLC purchased a new position in Manulife Financial in the second quarter valued at about $191,000. Finally, We Are One Seven LLC purchased a new position in Manulife Financial in the third quarter valued at about $227,000. 46.21% of the stock is currently owned by 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 through insurance agents, brokers, banks, financial planners, and direct marketing.
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