Caisse DE Depot ET Placement DU Quebec grew its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,517,566 shares of the financial services provider’s stock after buying an additional 427,756 shares during the quarter. Manulife Financial makes up about 1.7% of Caisse DE Depot ET Placement DU Quebec’s investment portfolio, making the stock its 13th biggest position. Caisse DE Depot ET Placement DU Quebec’s holdings in Manulife Financial were worth $651,594,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Acima Private Wealth LLC bought a new stake in Manulife Financial during the fourth quarter worth about $25,000. Enlightenment Research LLC bought a new stake in Manulife Financial during the fourth quarter worth about $30,000. Whittier Trust Co. of Nevada Inc. bought a new stake in Manulife Financial during the fourth quarter worth about $30,000. Bremer Bank National Association bought a new stake in Manulife Financial during the first quarter worth about $42,000. Finally, Bremer Trust National Association bought a new stake in Manulife Financial during the fourth quarter worth about $49,000. 46.60% of the stock is currently owned by hedge funds and other institutional investors.
MFC opened at $17.39 on Friday. Manulife Financial Co. has a one year low of $13.33 and a one year high of $18.98. The company has a market cap of $34.22 billion, a PE ratio of 8.24, a P/E/G ratio of 0.79 and a beta of 1.38.
Several analysts have weighed in on the stock. Barclays reaffirmed a “buy” rating and set 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 raised shares of Manulife Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Manulife Financial has a consensus rating of “Hold” and an average target price of $25.50.
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About Manulife Financial
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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