BancorpSouth Bank grew its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 0.6% during the first quarter, HoldingsChannel reports. The firm owned 123,735 shares of the financial services provider’s stock after purchasing an additional 680 shares during the period. BancorpSouth Bank’s holdings in Manulife Financial were worth $2,093,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of MFC. Norges Bank acquired a new stake in shares of Manulife Financial in the 4th quarter valued at about $275,237,000. Jarislowsky Fraser Ltd raised its stake in shares of Manulife Financial by 16.4% in the 4th quarter. Jarislowsky Fraser Ltd now owns 37,491,956 shares of the financial services provider’s stock valued at $531,717,000 after purchasing an additional 5,280,336 shares in the last quarter. Nordea Investment Management AB acquired a new stake in shares of Manulife Financial in the 3rd quarter valued at about $91,402,000. Highstreet Asset Management Inc. raised its stake in shares of Manulife Financial by 101.4% in the 4th quarter. Highstreet Asset Management Inc. now owns 3,959,949 shares of the financial services provider’s stock valued at $56,185,000 after purchasing an additional 1,994,033 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. raised its stake in shares of Manulife Financial by 10.1% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 21,439,119 shares of the financial services provider’s stock valued at $304,053,000 after purchasing an additional 1,964,748 shares in the last quarter. Institutional investors and hedge funds own 45.05% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Barclays restated a “buy” rating and issued a $29.00 target price on shares of Manulife Financial in a research note on Sunday. Zacks Investment Research lowered shares of Manulife Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 14th. Finally, ValuEngine upgraded shares of Manulife Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Manulife Financial currently has an average rating of “Hold” and an average target price of $25.50.
MFC opened at $18.33 on Tuesday. The stock has a market cap of $36.15 billion, a P/E ratio of 8.69, a price-to-earnings-growth ratio of 0.85 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 $19.63.
Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.24. The firm had revenue of $1.74 billion for the quarter. Manulife Financial had a net margin of 10.43% and a return on equity of 13.69%. Manulife Financial’s revenue was up 25.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. Analysts expect that Manulife Financial Co. will post 2.19 EPS for the current year.
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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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