Manulife Financial (NYSE:MFC) (TSE:MFC) had its price objective lifted by stock analysts at National Bank Financial from $26.00 to $28.00 in a note issued to investors on Friday, Stock Target Advisor reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s target price would indicate a potential upside of 41.84% from the company’s current price. National Bank Financial also issued estimates for Manulife Financial’s FY2020 earnings at $2.36 EPS.

A number of other equities research analysts also recently issued reports on the stock. ValuEngine raised shares of Manulife Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 30th. Canaccord Genuity upped their price target on shares of Manulife Financial from $33.00 to $34.00 in a research note on Friday. Zacks Investment Research raised shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Tuesday, July 23rd. Desjardins upped their price target on shares of Manulife Financial from $29.00 to $31.00 in a research note on Friday. Finally, BMO Capital Markets upped their price target on shares of Manulife Financial from $32.00 to $33.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $29.00.

Manulife Financial stock traded up $0.19 during mid-day trading on Friday, reaching $19.74. 1,786,570 shares of the company’s stock traded hands, compared to its average volume of 1,928,385. The company has a market cap of $40.66 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 0.86 and a beta of 1.43. The stock has a 50 day moving average of $18.41 and a two-hundred day moving average of $17.85. Manulife Financial has a 12-month low of $13.33 and a 12-month high of $20.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.21. The company had revenue of $17.14 billion for the quarter. Manulife Financial had a net margin of 9.36% and a return on equity of 13.27%. During the same period in the previous year, the company earned $0.75 EPS. As a group, sell-side analysts forecast that Manulife Financial will post 2.23 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in MFC. FMR LLC raised its stake in shares of Manulife Financial by 26.7% in the first quarter. FMR LLC now owns 7,705 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 1,624 shares during the period. Summit Financial Group Inc. purchased a new stake in shares of Manulife Financial in the second quarter valued at $230,000. Hexavest Inc. raised its stake in shares of Manulife Financial by 135.3% in the second quarter. Hexavest Inc. now owns 626,181 shares of the financial services provider’s stock valued at $11,405,000 after acquiring an additional 360,005 shares during the period. First National Bank of Omaha raised its stake in shares of Manulife Financial by 0.6% in the second quarter. First National Bank of Omaha now owns 216,806 shares of the financial services provider’s stock valued at $3,942,000 after acquiring an additional 1,241 shares during the period. Finally, Clark Capital Management Group Inc. raised its stake in shares of Manulife Financial by 176.8% in the second quarter. Clark Capital Management Group Inc. now owns 2,663,181 shares of the financial services provider’s stock valued at $48,417,000 after acquiring an additional 1,700,905 shares during the period. 42.41% of the stock is currently owned by institutional investors and hedge funds.

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.

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