Manulife Financial (MFC) Price Target Lowered to $28.00 at Morgan Stanley

Manulife Financial (NYSE:MFC) (TSE:MFC) had its price objective cut by equities research analysts at Morgan Stanley from $29.00 to $28.00 in a research note issued on Thursday. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 44.63% from the company’s previous close.

Other analysts have also issued research reports about the company. Scotiabank reissued a “buy” rating and set a $31.00 price target on shares of Manulife Financial in a report on Wednesday, January 31st. Zacks Investment Research raised Manulife Financial from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, January 2nd. Finally, National Bank Financial raised Manulife Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 24th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $27.00.

Manulife Financial (MFC) traded down $0.16 during trading hours on Thursday, reaching $19.36. The company’s stock had a trading volume of 484,233 shares, compared to its average volume of 2,932,084. Manulife Financial has a twelve month low of $16.62 and a twelve month high of $22.16. The company has a market capitalization of $38,677.29, a price-to-earnings ratio of 26.16, a PEG ratio of 0.99 and a beta of 1.28.

Several institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its position in shares of Manulife Financial by 1.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 162,061 shares of the financial services provider’s stock valued at $3,382,000 after acquiring an additional 2,869 shares in the last quarter. SevenBridge Financial Group LLC lifted its position in shares of Manulife Financial by 1,811.2% in the fourth quarter. SevenBridge Financial Group LLC now owns 10,894 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 10,324 shares in the last quarter. We Are One Seven LLC purchased a new position in shares of Manulife Financial in the fourth quarter valued at about $270,000. Westover Capital Advisors LLC lifted its position in shares of Manulife Financial by 5.6% in the fourth quarter. Westover Capital Advisors LLC now owns 84,685 shares of the financial services provider’s stock valued at $1,767,000 after acquiring an additional 4,508 shares in the last quarter. Finally, Schafer Cullen Capital Management Inc. lifted its position in shares of Manulife Financial by 1.4% in the fourth quarter. Schafer Cullen Capital Management Inc. now owns 2,921,368 shares of the financial services provider’s stock valued at $60,940,000 after acquiring an additional 39,135 shares in the last quarter. Institutional investors and hedge funds own 47.06% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this report on another domain, it was copied illegally and republished in violation of US & international trademark and copyright laws. The legal version of this report can be accessed at https://www.dispatchtribunal.com/2018/02/22/manulife-financial-mfc-price-target-lowered-to-28-00-at-morgan-stanley.html.

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.

Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply