Manulife Financial Co. (NYSE:MFC) (TSE:MFC) – Equities research analysts at Desjardins boosted their FY2017 earnings estimates for Manulife Financial in a research note issued to investors on Wednesday, Zacks Investment Research reports. Desjardins analyst D. Young now expects that the financial services provider will post earnings of $1.79 per share for the year, up from their prior forecast of $1.77. Desjardins also issued estimates for Manulife Financial’s Q4 2017 earnings at $0.44 EPS, FY2018 earnings at $2.01 EPS and FY2019 earnings at $2.17 EPS.
Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, November 8th. The financial services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $9.52 billion for the quarter.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded Manulife Financial from a “buy” rating to a “hold” rating in a research report on Friday. National Bank Financial upgraded Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. Finally, Scotiabank restated a “buy” rating and set a $31.00 target price on shares of Manulife Financial in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $27.00.
Shares of Manulife Financial (NYSE MFC) traded down $0.77 on Thursday, reaching $20.33. The company’s stock had a trading volume of 4,027,808 shares, compared to its average volume of 2,245,819. The firm has a market cap of $41,753.63, a P/E ratio of 14.52, a P/E/G ratio of 1.08 and a beta of 1.28. Manulife Financial has a 12 month low of $16.62 and a 12 month high of $22.16.
Several large investors have recently bought and sold shares of MFC. Neuberger Berman Group LLC grew its position in shares of Manulife Financial by 5.6% during the 2nd quarter. Neuberger Berman Group LLC now owns 63,345 shares of the financial services provider’s stock valued at $1,188,000 after acquiring an additional 3,331 shares during the period. Schroder Investment Management Group grew its position in shares of Manulife Financial by 223.7% during the 2nd quarter. Schroder Investment Management Group now owns 632,010 shares of the financial services provider’s stock valued at $16,673,000 after acquiring an additional 436,770 shares during the period. Private Advisor Group LLC grew its position in shares of Manulife Financial by 7.5% during the 2nd quarter. Private Advisor Group LLC now owns 20,628 shares of the financial services provider’s stock valued at $399,000 after acquiring an additional 1,441 shares during the period. Franklin Resources Inc. grew its position in shares of Manulife Financial by 9.2% during the 2nd quarter. Franklin Resources Inc. now owns 424,074 shares of the financial services provider’s stock valued at $7,954,000 after acquiring an additional 35,707 shares during the period. Finally, AXA grew its position in shares of Manulife Financial by 9.0% during the 2nd quarter. AXA now owns 188,098 shares of the financial services provider’s stock valued at $3,529,000 after acquiring an additional 15,498 shares during the period. Hedge funds and other institutional investors own 46.23% of the company’s stock.
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About Manulife Financial
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.
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