Manulife Financial (NYSE:MFC) Downgraded to “Hold” at Desjardins

Manulife Financial (NYSE:MFCGet Rating) (TSE:MFC) was downgraded by investment analysts at Desjardins from a “buy” rating to a “hold” rating in a report issued on Friday, The Fly reports.

MFC has been the topic of a number of other research reports. Barclays started coverage on Manulife Financial in a research note on Thursday, February 3rd. They set an “overweight” rating and a $36.00 price target on the stock. BMO Capital Markets downgraded Manulife Financial from an “outperform” rating to a “market perform” rating in a report on Thursday. TD Securities cut their price objective on Manulife Financial from C$37.00 to C$34.00 in a research report on Thursday. National Bank Financial cut their price objective on Manulife Financial from C$28.00 to C$26.00 in a research report on Thursday. Finally, Scotiabank dropped their price target on Manulife Financial from C$30.00 to C$28.00 in a research report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Manulife Financial has a consensus rating of “Hold” and an average target price of $29.90.

NYSE MFC opened at $16.76 on Friday. The company has a market capitalization of $32.33 billion, a P/E ratio of 4.51, a P/E/G ratio of 0.69 and a beta of 1.22. Manulife Financial has a one year low of $16.63 and a one year high of $22.19. The stock has a 50 day moving average price of $20.35 and a 200-day moving average price of $20.01.

Manulife Financial (NYSE:MFCGet Rating) (TSE:MFC) last released its earnings results on Wednesday, February 9th. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.02. The business had revenue of $17.14 billion for the quarter. During the same period last year, the business posted $0.57 EPS. On average, equities analysts expect that Manulife Financial will post 2.75 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of MFC. Prospera Financial Services Inc acquired a new position in Manulife Financial in the 1st quarter valued at about $26,000. Meeder Asset Management Inc. acquired a new position in shares of Manulife Financial during the 1st quarter worth $27,000. PSI Advisors LLC purchased a new position in Manulife Financial in the third quarter valued at about $29,000. Widmann Financial Services Inc. acquired a new position in shares of Manulife Financial during the 4th quarter worth approximately $33,000. Finally, Allegheny Financial Group LTD acquired a new stake in shares of Manulife Financial during the fourth quarter worth $34,000. 47.04% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Company Profile (Get Rating)

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.

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