Rathbone Brothers plc lifted its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 6.3% during the 1st quarter, HoldingsChannel reports. The fund owned 93,300 shares of the financial services provider’s stock after buying an additional 5,500 shares during the period. Rathbone Brothers plc’s holdings in Manulife Financial were worth $1,579,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. BancorpSouth Bank lifted its stake in Manulife Financial by 0.6% in the 1st quarter. BancorpSouth Bank now owns 123,735 shares of the financial services provider’s stock valued at $2,093,000 after buying an additional 680 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Manulife Financial by 6.7% in the 1st quarter. Jones Financial Companies Lllp now owns 11,218 shares of the financial services provider’s stock valued at $190,000 after buying an additional 701 shares in the last quarter. Advisor Partners LLC lifted its stake in Manulife Financial by 6.4% in the 1st quarter. Advisor Partners LLC now owns 12,526 shares of the financial services provider’s stock valued at $212,000 after buying an additional 758 shares in the last quarter. Cetera Advisors LLC lifted its stake in Manulife Financial by 3.6% in the 4th quarter. Cetera Advisors LLC now owns 23,280 shares of the financial services provider’s stock valued at $328,000 after buying an additional 816 shares in the last quarter. Finally, CWM LLC lifted its stake in Manulife Financial by 69.4% in the 4th quarter. CWM LLC now owns 2,300 shares of the financial services provider’s stock valued at $33,000 after buying an additional 942 shares in the last quarter. 47.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of MFC opened at $17.15 on Friday. The firm has a market capitalization of $34.91 billion, a price-to-earnings ratio of 8.13, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39. Manulife Financial Co. has a fifty-two week low of $13.33 and a fifty-two week high of $19.52.
Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.24. The company had revenue of $1.74 billion during the quarter. Manulife Financial had a return on equity of 13.69% and a net margin of 10.43%. The company’s revenue was up 25.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 earnings per share. Equities research analysts anticipate that Manulife Financial Co. will post 2.18 earnings per share for the current fiscal year.
A number of research firms recently issued reports on MFC. Barclays reaffirmed a “buy” rating and issued a $29.00 target price on shares of Manulife Financial in a research note on Sunday, May 5th. ValuEngine raised Manulife Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Zacks Investment Research lowered Manulife Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Manulife Financial has an average rating of “Hold” and a consensus target price of $25.50.
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Manulife Financial 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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