Royal Bank Of Canada Increases Manulife Financial (NYSE:MFC) Price Target to $52.00

Manulife Financial (NYSE:MFC) (TSE:MFC) had its price objective raised by equities research analysts at Royal Bank Of Canada from $49.00 to $52.00 in a report issued on Friday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 51.21% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Weiss Ratings restated a “buy (a-)” rating on shares of Manulife Financial in a report on Wednesday, October 8th. Morgan Stanley set a $47.00 target price on shares of Manulife Financial in a research note on Tuesday, October 7th. Finally, UBS Group started coverage on shares of Manulife Financial in a research report on Thursday, October 16th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $49.50.

Manulife Financial Price Performance

MFC stock opened at $34.39 on Friday. Manulife Financial has a 1 year low of $25.92 and a 1 year high of $35.57. The stock has a market capitalization of $57.95 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98. The company’s 50-day moving average is $32.12 and its 200-day moving average is $31.45.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, November 12th. The financial services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.10. Manulife Financial had a net margin of 10.46% and a return on equity of 15.77%. The business had revenue of $12.90 billion during the quarter. During the same quarter last year, the firm posted $1.00 EPS. On average, analysts anticipate that Manulife Financial will post 2.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Manulife Financial by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 76,711,490 shares of the financial services provider’s stock valued at $2,390,023,000 after acquiring an additional 374,615 shares during the period. TD Asset Management Inc boosted its holdings in shares of Manulife Financial by 5.8% in the third quarter. TD Asset Management Inc now owns 37,638,463 shares of the financial services provider’s stock worth $1,172,922,000 after acquiring an additional 2,079,330 shares during the period. Canerector Inc. grew its position in shares of Manulife Financial by 4,445.8% in the third quarter. Canerector Inc. now owns 28,184,000 shares of the financial services provider’s stock valued at $877,932,000 after purchasing an additional 27,564,000 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Manulife Financial by 25.6% during the 3rd quarter. Mackenzie Financial Corp now owns 27,822,300 shares of the financial services provider’s stock valued at $866,649,000 after purchasing an additional 5,671,639 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in Manulife Financial by 3.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 25,155,652 shares of the financial services provider’s stock worth $803,975,000 after purchasing an additional 730,187 shares in the last quarter. 52.56% of the stock is owned by 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.