DBS Sticks to Their Buy Rating for Manulife Financial (MFC)
DBS analyst Ken Shih maintained a Buy rating on Manulife Financial today and set a price target of HK$276.50.
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Shih covers the Financial sector, focusing on stocks such as Ping An Insurance Company of China, AIA Group, and People’s Insurance Co (Group) of China. According to TipRanks, Shih has an average return of 27.3% and an 82.17% success rate on recommended stocks.
Currently, the analyst consensus on Manulife Financial is a Moderate Buy with an average price target of $37.55.
Based on Manulife Financial’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$15.42 billion and a net profit of C$1.87 billion. In comparison, last year the company earned a revenue of C$12.67 billion and had a net profit of C$1.09 billion
Based on the recent corporate insider activity of 143 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MFC in relation to earlier this year.
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