Barclays Remains a Hold on Manulife Financial (MFC)

By Ryan Adsit

In a report released yesterday, John Aiken from Barclays maintained a Hold rating on Manulife Financial (MFCResearch Report), with a price target of C$19.00. The company’s shares closed last Thursday at $12.80.

According to TipRanks.com, Aiken is a 1-star analyst with an average return of -2.3% and a 42.3% success rate. Aiken covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, National Bank of Canada, and Toronto Dominion Bank.

Manulife Financial has an analyst consensus of Moderate Buy, with a price target consensus of $19.99.

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Manulife Financial’s market cap is currently $24.86B and has a P/E ratio of 5.70. The company has a Price to Book ratio of 0.95.

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Manulife Financial Corp. is a financial services company, which engages in the provision of financial protection and wealth management products and services. It operates through the following business segments: Asia, Canada, U.S., Global Wealth & Asset Management and Corporate & Other. The Asia segment provides insurance products and insurance-based wealth accumulation products in Asia. The Canada segment provides insurance products, insurance-based wealth accumulation products and banking services in Canada. The U.S. segment provides life insurance products, insurance-based wealth accumulation products, digital advice solutions and administering in-force long-term care insurance and annuity businesses in the U.S. The Global Wealth & Asset Management segment provides fee-based wealth solutions to retail, retirement and institutional customers. The Corporate & Other segment comprises of investment performance on assets backing capital, net of amounts allocated to operating segments, financing costs, costs incurred by the corporate office related to shareholder activities, Property & Casualty Reinsurance business and run-off reinsurance business lines. The company was founded on April 26, 1999 and is headquartered in Toronto, Canada.