The Manufacturers Life Insurance Company Has $25 Million Holdings in Manulife Financial Co. (NYSE:MFC)

The Manufacturers Life Insurance Company cut its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,478,656 shares of the financial services provider’s stock after selling 19,350 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Manulife Financial were worth $25,004,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BancorpSouth Bank lifted its stake in shares of Manulife Financial by 0.6% in the first quarter. BancorpSouth Bank now owns 123,735 shares of the financial services provider’s stock worth $2,093,000 after buying an additional 680 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Manulife Financial by 6.7% in the first quarter. Jones Financial Companies Lllp now owns 11,218 shares of the financial services provider’s stock worth $190,000 after buying an additional 701 shares during the last quarter. Advisor Partners LLC lifted its stake in shares of Manulife Financial by 6.4% in the first quarter. Advisor Partners LLC now owns 12,526 shares of the financial services provider’s stock worth $212,000 after buying an additional 758 shares during the last quarter. Cetera Advisors LLC lifted its stake in shares of Manulife Financial by 3.6% in the fourth quarter. Cetera Advisors LLC now owns 23,280 shares of the financial services provider’s stock worth $328,000 after buying an additional 816 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Manulife Financial by 4.8% in the fourth quarter. Bessemer Group Inc. now owns 21,825 shares of the financial services provider’s stock worth $310,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 46.60% of the company’s stock.

A number of analysts have recently weighed in on the stock. Barclays restated a “buy” rating and issued a $29.00 price objective on shares of Manulife Financial in a research note on Sunday, May 5th. Zacks Investment Research cut shares of Manulife Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Finally, ValuEngine upgraded shares of Manulife Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Manulife Financial currently has an average rating of “Hold” and an average price target of $25.50.

Shares of MFC stock opened at $17.37 on Friday. Manulife Financial Co. has a 1 year low of $13.33 and a 1 year high of $19.17. The firm has a market cap of $34.20 billion, a P/E ratio of 8.23, a P/E/G ratio of 0.79 and a beta of 1.38.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.24. Manulife Financial had a net margin of 10.43% and a return on equity of 13.69%. The business had revenue of $1.74 billion for the quarter. During the same period last year, the firm posted $0.64 EPS. The company’s revenue was up 25.5% compared to the same quarter last year. On average, analysts expect that Manulife Financial Co. will post 2.19 EPS for the current fiscal year.

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Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.

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Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

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