Manulife Financial Corp (NYSE:MFC) (TSE:MFC) had its target price hoisted by analysts at Morgan Stanley from $26.00 to $27.00 in a report issued on Thursday. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 33.20% from the stock’s current price.

MFC has been the topic of several other reports. BidaskClub raised Manulife Financial Corp from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. ValuEngine cut Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. Finally, Zacks Investment Research cut Manulife Financial Corp from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $24.25.

Shares of Manulife Financial Corp (MFC) opened at 20.27 on Thursday. Manulife Financial Corp has a 52 week low of $14.15 and a 52 week high of $20.84. The company has a market capitalization of $40.10 billion, a price-to-earnings ratio of 13.45 and a beta of 1.29. The firm has a 50 day moving average price of $19.86 and a 200 day moving average price of $18.73.

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. The firm had revenue of $12.34 billion for the quarter, compared to the consensus estimate of $16.09 billion. During the same period in the previous year, the company earned $0.40 earnings per share. Equities analysts forecast that Manulife Financial Corp will post $1.79 EPS for the current year.

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Institutional investors have recently made changes to their positions in the stock. Ropes Wealth Advisors LLC bought a new position in Manulife Financial Corp in the 2nd quarter worth $103,000. D.A. Davidson & CO. raised its holdings in Manulife Financial Corp by 17.5% in the 2nd quarter. D.A. Davidson & CO. now owns 6,768 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 1,010 shares during the period. Sadoff Investment Management LLC bought a new position in Manulife Financial Corp in the 2nd quarter worth $188,000. Northwestern Mutual Wealth Management Co. raised its holdings in Manulife Financial Corp by 25.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,284 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 2,103 shares during the period. Finally, YHB Investment Advisors Inc. bought a new position in Manulife Financial Corp in the 2nd quarter worth $202,000. 45.96% of the stock is currently owned by institutional investors.

Manulife Financial Corp Company Profile

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

Analyst Recommendations for Manulife Financial Corp (NYSE:MFC)

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