Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC had its target price boosted by Royal Bank of Canada from $49.00 to $51.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Royal Bank of Canada's price objective suggests a potential upside of 66.29% from the company's current price.
NYSE MFC traded down $1.15 during trading hours on Friday, hitting $30.67. 538,890 shares of the company's stock were exchanged, compared to its average volume of 2,005,565. The business's 50 day moving average is $30.33 and its 200-day moving average is $29.71. Manulife Financial has a 12-month low of $22.61 and a 12-month high of $33.07. The firm has a market capitalization of $52.85 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 1.04 and a beta of 1.09.
Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.07. The firm had revenue of $9.31 billion for the quarter. Manulife Financial had a return on equity of 16.15% and a net margin of 10.08%. As a group, equities research analysts anticipate that Manulife Financial will post 2.88 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of MFC. Brooklyn Investment Group purchased a new position in shares of Manulife Financial in the 3rd quarter worth about $26,000. Crews Bank & Trust purchased a new position in shares of Manulife Financial in the 4th quarter worth about $26,000. Capital Performance Advisors LLP purchased a new position in shares of Manulife Financial in the 3rd quarter worth about $30,000. Fortitude Family Office LLC purchased a new stake in shares of Manulife Financial during the 3rd quarter valued at about $31,000. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Manulife Financial during the 4th quarter valued at about $31,000. 52.56% of the stock is currently owned by hedge funds and other institutional investors.
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.
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