Moors & Cabot Inc. grew its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 95.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,946 shares of the financial services provider’s stock after acquiring an additional 38,039 shares during the quarter. Moors & Cabot Inc.’s holdings in Manulife Financial were worth $1,318,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of MFC. Advisor Partners LLC boosted its holdings in Manulife Financial by 6.4% during the 1st quarter. Advisor Partners LLC now owns 12,526 shares of the financial services provider’s stock valued at $212,000 after acquiring an additional 758 shares during the period. Cardinal Capital Management Inc. boosted its holdings in Manulife Financial by 32.0% during the 4th quarter. Cardinal Capital Management Inc. now owns 3,300 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 800 shares during the period. Cetera Advisors LLC boosted its holdings in Manulife Financial by 3.6% during the 4th quarter. Cetera Advisors LLC now owns 23,280 shares of the financial services provider’s stock valued at $328,000 after acquiring an additional 816 shares during the period. CWM LLC boosted its holdings in Manulife Financial by 69.4% during the 4th quarter. CWM LLC now owns 2,300 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 942 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in Manulife Financial by 4.8% during the 4th quarter. Bessemer Group Inc. now owns 21,825 shares of the financial services provider’s stock valued at $310,000 after acquiring an additional 1,000 shares during the period. 46.60% of the stock is owned by institutional investors and hedge funds.
Shares of MFC traded down $0.03 during midday trading on Wednesday, hitting $17.12. The company had a trading volume of 1,249,837 shares, compared to its average volume of 2,239,141. The stock has a market capitalization of $34.12 billion, a PE ratio of 8.11, a PEG ratio of 0.79 and a beta of 1.39. Manulife Financial Co. has a 1 year low of $13.33 and a 1 year high of $19.22.
Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.24. Manulife Financial had a return on equity of 13.69% and a net margin of 10.43%. The business had revenue of $1.74 billion during the quarter. During the same quarter in the previous year, the business posted $0.64 EPS. The business’s quarterly revenue was up 25.5% compared to the same quarter last year. Research analysts forecast that Manulife Financial Co. will post 2.19 EPS for the current fiscal year.
A number of equities analysts recently commented on MFC shares. ValuEngine upgraded Manulife Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded Manulife Financial from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Tuesday, March 26th. Finally, Barclays restated a “buy” rating and set a $29.00 target price on shares of Manulife Financial in a report on Sunday, May 5th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Manulife Financial currently has an average rating of “Hold” and a consensus target price of $25.50.
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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