Dundee Initiates Coverage on Manulife Financial Corporation (USA) to Buy

Dundee Initiates Coverage on Manulife Financial Corporation (USA)(NYSE:MFC). The shares have been rated Buy. The rating by Dundee was issued on Sep 21, 2016.

In a different note, Bank of America said it Initiates Coverage on Manulife Financial Corporation (USA), according to a research note issued on Aug 24, 2016. The shares have been rated ‘Buy’ by the firm. On Aug 4, 2016, CIBC said it Downgrades its rating on Manulife Financial Corporation (USA). The shares have been rated ‘Sector Perform’ by the firm.

Manulife Financial Corporation (USA) (MFC) made into the market gainers list on Tuesdays trading session with the shares advancing 0.80% or 0.11 points. Due to strong positive momentum, the stock ended at $13.9, which is also near the day’s high of $13.955. The stock began the session at $13.835 and the volume stood at 25,56,954 shares. The 52-week high of the shares is $17.165 and the 52 week low is $10.99. The company has a current market capitalization of $27,424 M and it has 1,97,29,23,300 shares in outstanding.

Manulife Financial Corporation (USA)(MFC) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $16.01B. Analysts had an estimated revenue of $9.48B. Earnings per share were $0.31. Analysts had estimated an EPS of $0.35.

Manulife Financial Corp is a Canada-based financial services and life insurance company. The Company offers financial protection and wealth management products and services. It caters to personal and business clients. It also provides asset management services to institutional customers. Its operating segments are Asia Canadian and U.S. Divisions and the Corporate and Other segment. Its Asia Canadian and U.S. Divisions segment offers protection and wealth management services such as life insurance and individual group long-term care insurance annuities pension contracts and mutual fund products and services retirement products and deposit and credit products to Canadian customers among others. The Company’s Corporate and Other segment consists of investment performance on assets backing capital net of amounts allocated to operating division and financing costs external asset management business and property and casualty (P&C) reinsurance business among others.

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