Manulife Financial Corp (MFC) Posts Earnings Results, Beats Expectations By $0.01 EPS
Manulife Financial Corp (NYSE:MFC) (TSE:MFC) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01, Morningstar.com reports. During the same period last year, the business earned $0.40 EPS.
Shares of Manulife Financial Corp (NYSE:MFC) traded down 2.33% during trading on Thursday, hitting $19.71. The stock had a trading volume of 404,390 shares. The firm has a 50-day moving average price of $19.58 and a 200 day moving average price of $18.37. The company has a market capitalization of $38.96 billion, a PE ratio of 15.84 and a beta of 1.30. Manulife Financial Corp has a 52 week low of $13.10 and a 52 week high of $20.84.
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Institutional investors have recently bought and sold shares of the company. First Personal Financial Services boosted its stake in shares of Manulife Financial Corp by 118.4% in the first quarter. First Personal Financial Services now owns 7,442 shares of the financial services provider’s stock valued at $132,000 after buying an additional 4,035 shares in the last quarter. Howard Hughes Medical Institute bought a new stake in shares of Manulife Financial Corp during the first quarter valued at $155,000. Pennsylvania Trust Co bought a new stake in shares of Manulife Financial Corp during the second quarter valued at $234,000. Sadoff Investment Management LLC bought a new stake in shares of Manulife Financial Corp during the second quarter valued at $188,000. Finally, Huntington National Bank boosted its stake in shares of Manulife Financial Corp by 220.4% in the first quarter. Huntington National Bank now owns 10,354 shares of the financial services provider’s stock valued at $184,000 after buying an additional 7,122 shares in the last quarter. Hedge funds and other institutional investors own 48.27% of the company’s stock.
A number of analysts have recently commented on the company. Zacks Investment Research raised Manulife Financial Corp from a “sell” rating to a “hold” rating and set a $22.00 price target on the stock in a research note on Monday, July 10th. BidaskClub raised Manulife Financial Corp from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. National Bank Financial reissued a “sector perform overweight” rating on shares of Manulife Financial Corp in a research note on Wednesday, May 3rd. Finally, ValuEngine lowered Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $22.25.
Manulife Financial Corp Company Profile
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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