Moors & Cabot Inc. lifted its holdings in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 95.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 77,946 shares of the financial services provider’s stock after buying an additional 38,039 shares during the quarter. Moors & Cabot Inc.’s holdings in Manulife Financial were worth $1,318,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in MFC. Mackey Komara & Dankovich LLC bought a new position in Manulife Financial in the fourth quarter worth approximately $25,000. Acima Private Wealth LLC bought a new position in Manulife Financial in the fourth quarter worth approximately $25,000. Enlightenment Research LLC bought a new position in Manulife Financial in the fourth quarter worth approximately $30,000. Whittier Trust Co. of Nevada Inc. bought a new position in Manulife Financial in the fourth quarter worth approximately $30,000. Finally, CWM LLC grew its stake in Manulife Financial by 69.4% in the fourth quarter. CWM LLC now owns 2,300 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 942 shares in the last quarter. 44.88% of the stock is currently owned by institutional investors.
Shares of NYSE MFC opened at $18.33 on Tuesday. The firm has a market cap of $36.60 billion, a price-to-earnings ratio of 8.69, a P/E/G ratio of 0.85 and a beta of 1.39. Manulife Financial Co. has a 12-month low of $13.33 and a 12-month high of $19.63.
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, beating the consensus estimate of $0.52 by $0.24. The business had revenue of $1.74 billion for the quarter. Manulife Financial had a return on equity of 13.69% and a net margin of 10.43%. The firm’s revenue was up 25.5% compared to the same quarter last year. During the same period last year, the business posted $0.64 EPS. On average, equities research analysts forecast that Manulife Financial Co. will post 2.19 earnings per share for the current fiscal year.
Several research analysts recently issued reports on MFC shares. Barclays reissued a “buy” rating on shares of Manulife Financial in a research note on Thursday, January 10th. Zacks Investment Research cut Manulife Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Finally, ValuEngine raised 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 given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $25.50.
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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