3 Stocks Pushing The Financial Sector Downward

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Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 12 points (-0.1%) at 16,435 as of Friday, May 16, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,512 issues advancing vs. 1,401 declining with 184 unchanged.

The Financial sector currently is unchanged today versus the S&P 500, which is unchanged. On the negative front, top decliners within the sector include Waddell & Reed Financial ( WDR), down 4.2%, Aegon ( AEG), down 2.4%, Mitsubishi UFJ Financial Group ( MTU), down 1.7%, CME Group ( CME), down 1.4% and Capital One Financial ( COF), down 1.0%. A company within the sector that increased today was Bank of New York Mellon ( BK), up 0.8%.

TheStreet would like to highlight 3 stocks pushing the sector lower today:

3. Manulife Financial Corporation ( MFC) is one of the companies pushing the Financial sector lower today. As of noon trading, Manulife Financial Corporation is down $0.15 (-0.8%) to $18.30 on average volume. Thus far, 575,883 shares of Manulife Financial Corporation exchanged hands as compared to its average daily volume of 1.5 million shares. The stock has ranged in price between $18.26-$18.45 after having opened the day at $18.42 as compared to the previous trading day's close of $18.45.

Manulife Financial Corporation, together with its subsidiaries, provides financial protection and wealth management products and services to individual, corporate, and business customers primarily in Asia, Canada, and the United States. The company operates through Asia, Canadian, and U.S. Manulife Financial Corporation has a market cap of $34.6 billion and is part of the insurance industry. Shares are down 6.5% year-to-date as of the close of trading on Thursday. Currently there are 5 analysts that rate Manulife Financial Corporation a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Manulife Financial Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, compelling growth in net income, impressive record of earnings per share growth and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins. Get the full Manulife Financial Corporation Ratings Report now.

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