Manulife Financial (NYSE:MFC) Upgraded by National Bank Financial to “Outperform”

Manulife Financial (NYSE:MFC) (TSE:MFC) was upgraded by research analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a report released on Thursday, Briefing.com reports.

Several other research firms have also commented on MFC. Desjardins raised shares of Manulife Financial from a “hold” rating to a “buy” rating in a research report on Thursday, February 15th. Jefferies Financial Group began coverage on shares of Manulife Financial in a research report on Thursday, February 22nd. They set a “buy” rating for the company. Finally, BMO Capital Markets upgraded Manulife Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $31.00 to $35.00 in a research report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $33.33.

Manulife Financial Price Performance

Shares of NYSE:MFC opened at $24.47 on Thursday. The company has a market capitalization of $43.94 billion, a PE ratio of 12.68, a PEG ratio of 0.89 and a beta of 1.08. The business has a fifty day moving average price of $23.94 and a 200-day moving average price of $21.94. Manulife Financial has a 1-year low of $17.07 and a 1-year high of $25.14.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, February 14th. The financial services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. Manulife Financial had a return on equity of 15.98% and a net margin of 10.42%. The business had revenue of $10.96 billion during the quarter, compared to analyst estimates of $7.57 billion. On average, sell-side analysts anticipate that Manulife Financial will post 2.7 earnings per share for the current fiscal year.

Institutional Trading of Manulife Financial

Several hedge funds have recently modified their holdings of MFC. Bruce G. Allen Investments LLC raised its position in shares of Manulife Financial by 73.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 1,156 shares of the financial services provider’s stock valued at $29,000 after buying an additional 490 shares in the last quarter. Accordant Advisory Group Inc bought a new position in shares of Manulife Financial during the 1st quarter valued at approximately $30,000. Anchor Investment Management LLC purchased a new stake in Manulife Financial during the 4th quarter valued at $27,000. Fortis Group Advisors LLC boosted its stake in Manulife Financial by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 1,210 shares of the financial services provider’s stock worth $27,000 after buying an additional 605 shares during the period. Finally, Creekmur Asset Management LLC bought a new position in Manulife Financial during the fourth quarter valued at $30,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.